2001 (1) TMI 919

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the following common ground : "That on the facts and in the circumstances of the case, the Commissioner of Income-tax (Appeals)-XII, Calcutta, erred in holding that the deduction under section 80HHC is allowable before setting off losses." None appeared on behalf of the assessee in spite of notice of registered acknowledgment due. Nor is there any application for adjournment on behalf of the as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....essment order, we observe that the Assessing Officer after considering the written submissions of the assessee computed the deductions allowable to the assessee under section 80HHC of the Act at Rs.20,07,388. We further observe that the Assessing Officer passed two orders under section 154 of the Act dated March 16, 1995, and November 27, 1995, and held that the assessee was allowed excess deducti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....unt for the purpose of deduction under section 80HHC of the Act but as provided in rule 18BBA in the prescribed Form No. 10CCA as held by Income-tax Appellate Tribunal, Delhi Bench, in the case of International Research Park Laboratories Ltd. v. Asst. CIT [1995] 212 ITR (AT) 1 (Delhi) [SB]. The learned Commissioner of Income-tax (Appeals) accepted the contention of the assessee that there could be....