2008 (6) TMI 357

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....tion of law, the assessee has filed this appeal against the order of the Income-tax Appellate Tribunal, "A" Bench, dated September 15, 2006, made in I. T. A. No. 851 (Mds)/2005 :   "Whether on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the appellant is not entitled to deduction under section 80HHC of the Income-tax Act, without appreciatin....

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....withdrawing the relief under section 80HHC of the Act. While computing the deduction under section 80HHC of the Act, the Assessing Officer excluded 90 per cent. of the processing charges, lease rent receipts, sale of DEPB licence and additional consider-ation in excess of FOB from the profits of business under section 80HHC(4C), Explanation (baa)(1) which resulted in the negative figure of (-) Rs.....

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....carried on appeal before the Tribunal. The Tribunal, by the impugned order, held against the assessee. The correctness of the said order is canvassed in this appeal by formulating the question of law above referred to in the summation of facts.   4. A reading of the order of the Tribunal shows that the only point that has been agitated before the Tribunal was that the Commissioner of Incom....

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.... 80HHC. Accordingly, we do not find any infirmity in the order passed by the authority below."   5. Before us, the learned counsel for the assessee argued in line with the question of law formulated by contending that the order of the Tribunal to the effect that the assessee is not entitled to deduction under section 80HHC of the Act is not correct because the Tribunal has not appreciated ....