2010 (12) TMI 371

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.... Ms. Monisha Gandhi, Advocate for the respondent.   AJAY KUMAR MITTAL, J.   1. This order shall dispose of ITA Nos. 426 of 2007, 35 and 36 of 2008 as common question of law and facts are involved therein. For brevity, the facts are being extracted from ITA No. 426 of 2007.   2. ITA No. 426 of 2007 has been preferred by the revenue under Section 260A of the Income Tax Act, ....

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....ome from export, domestic sale of rice and job charges received from husking of rice. The assessee filed its return on 7.10.2002 for the assessment year 2003-04 declaring an income of Rs.19,00,320/-. The Assessing Officer held that paddy husking charges were received in the nature of its usual business activity and, therefore, there was no justification in excluding those receipts from the total t....

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....over for the purpose of computing deduction under Section 80HHC. As regards the issue of disallowance of 90% of interest received on FDRS for the calculation of deduction under Section 80HHC, the Tribunal affirmed the order of the CIT(A). Hence, the present appeal by the revenue.   4. We have heard learned counsel for the parties. 5. The point for determination in the present appeal rel....