2009 (3) TMI 585

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....MENT   K. Raviraja Pandian J. -This appeal is at the instance of the Revenue against the order of the Income-tax Appellate Tribunal dated June 28, 2004 made in I. T. A. No. 1544 (Mds)/97. The assessment year is 1991-92.   2. The facts are : The assessee filed its return of income on December 29, 1991 admitting nil income. The Assessing Officer, while computing the assessment, fo....

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....n 80HHC of the Act, the Assessing Officer observed that by mistake the gross receipts of conversion charges were not included in the total turnover, but only the net receipts under the head were included. The Assessing Officer finding that the conversion charges to be adopted for the purpose of inclusion in the total turnover, in respect of twisting charges, weaving conversion charges, doubling ch....

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....n the following substantial question of law :   "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that conversion charges received by the assessee from other textile mills could not be included in the total turnover for the purpose of computation of deduction under section 80HHC of the Act ?"   4. Heard the learned c....