2009 (5) TMI 574

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....nt of the court was delivered by C. N. Ramachandran Nair J.-In the appeal filed by the assessee, the questions raised pertain to computation of deduction for export profit under section 80HHC of the Income-tax Act, 1961. The assessee having its industry in a backward area was entitled to deduction under section 80-IB of the Income-tax Act. However, by virtue of section 80-IB(13) read with secti....

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....n 80-IB cannot be reckoned or has to be excluded. We find the order of the Tribunal is consistent with the statutory provisions and therefore the appeal on this issue is rejected. 2. So far as computation of relief under section 80HHC is concerned, we find that the assessment requires reconsideration because by virtue of the decision of the Supreme Court in Janatha Cashew Exporting Co. v. CIT [....