1992 (9) TMI 125

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ceding year. This deduction was denied as in last year business was carried only for 15 days and, therefore, the said year was not comparable for considering increase in export turnover for the purpose of above claim. The assessee challenged the disallowance in appeal before DC (Appeals) but without any success. The learned DC (Appeals) noted that export turnover in the last year was only a token turnover of Rs. 200 against Rs. 3,04,348 in this year. In his view it would be abuse of the legal provision to treat and compare last year's turnover with the annual turnover of this year and allow deduction u/s 80HHC of I.T. Act. The assessee being aggrieved, has brought the issue in appeal before the Appellate Tribunal. 3. Shri P.J. Khanna, le....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....mely :--- (a) a deduction of an amount equal to one per cent of the export turnover of such goods or merchandise during the previous year ; and (b) a deduction of an amount equal to five per cent of the amount by which the export turnover of such goods or merchandise during the previous year exceeds the export turnover of such goods or merchandise during the immediately preceding year. " The assessee has been allowed deduction under clause (a) on export turn over of Rs. 3,04,348 of the year under consideration and there is no dispute that all the general conditions of section 80HHC are satisfied. The dispute relates to claim under clause (b) of sub-section (1) which provides for further claim of 5 per cent of the amount by which ex....