2007 (8) TMI 470

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of the Income-tax Appellate Tribunal Madras "C" Bench made in I. T. A. No. 467/Mds/1995 dated April 30, 2003. 2. The material facts of the case are as follows :   3. The relevant assessment year is 1991-92. The assessee for the said assessment year filed its return and the Assessing Officer, inter alia, dis-allowed the claim of the assessee pertaining to expenditure on farm, build-ing ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of law required consideration by this court is the third question of law. The other two questions of law are formulated as such but they are factual in nature, which require no consideration by this court. The third question of law framed runs as under :   "Whether, on the facts and circumstances of the case, the Tribunal was right in observing that other receipts other than cash compensa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e for the assessment year under appeal, states that 90 per cent. of the cash compensatory support would have to be deducted from the profits for working out the export profits. The net amount so determined would be the profit of the business which would have to be apportioned in the ratio of export turnover to the total turnover. This amount would then be added by 90 per cent. of the cash compensa....