2000 (11) TMI 1022

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....dent. ORDER Rakesh Kumar Gupta, Accountant Member. - This appeal preferred by the revenue is directed against the order of the Commissioner of Income-tax (Appeals) V, Hyderabad dated 15-12-1995 and is arising out of the order under section 154 dated 13-9-1995 passed by the DCIT, Special Range-2, Hyderabad. 2. The assessee filed its return for assessment year 1994-95 on 30-6-1994 as aga....

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.... Aggrieved against the order passed under section 154, the appellant went in appeal before ld. CIT(A), who reversed the action of the Assessing Officer by holding that Explanation (baa ) does not cover conversion charges and in any case such adjustment could not be made in the intimation under section 143(1)(a). Aggrieved against the order of the ld. CIT(A), revenue has come up in appeal before ....

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....efore us the copy of the order of the Tribunal in assessee's own case in assessment year 1993-94 where identical adjustment made by Assessing Officer and deleted by CIT(A) was challenged by revenue. 4. Having heard the rival submissions, we find that order passed by ld. CIT(A) does not require any interference. Conversion charges stated to be earned by the appellant during the course of its bus....

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....y no stretch of interpretation in the context of the assessee can acquire the character of an item which may be excluded by invoking the Explanation (baa) to section 80HHC. Details of miscellaneous receipts were not available with the return of income, therefore, could not be presumed to be one covered by Explanation (baa ) to section 80HHC. In fact Assessing Officer was required to obtain further....