TaxTMI 
TaxTMI 
2013 (2) TMI 404
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....he facts and circumstances of the case, the Hon'ble Income Tax Appellate Tribunal is justified in considering the Software expenses amounting to Rs.58,82,239/- as revenue expenditure instead of capital expenditure by ignoring the decision of Hon'ble Gujrat High Court reported at 96 ITR 672? (ii) Whether on the facts and circumstances of the case, the Hon'ble Income Tax Appellate Tribunal is justified in considering the Software expenses amounting to Rs.58,82,239/- as revenue expenditure instead of capital expenditure whereas the concern is not involved in the business of development and selling computer software and computer software is only use for overall improvement and functioning of the concern and whether the acquisition of the said ....
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....ature included in such profit" in clause (baa) to Section 80HHC?" (vi) Whether on the facts and circumstances of the case, the Hon'ble Income Tax Appellate Tribunal is justified in upholding the decision of CIT(A) in directing to reduce only 90% of discount received from customers from profits of business for computation of deduction u/s 80HHC as these receipts are of similar nature to receipts such as brokerage, commission etc. as per explanation (baa) to section (4C) of section 80HHC? The revenue has claimed the following substantial questions of law in I.T.A. No.61 of 2012:- (i) Whether on the facts and circumstances of the case, the Hon'ble Income Tax Appellate Tribunal is justified in restoring back the matter to the file of ....
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....inst the revenue by this court. We do not find that such question of law arises for consideration in the present appeal. Question No.(v) relates to sales tax subsidy received by the assessee and Question No.(vi) relates to discounts received by the assessee from customer. The assessee has received sales tax subsidy of Rs.6,80,61,977/- and the discount of Rs.31,92,077/-. Such questions relates to interpretation of Section 80HHC (4C)(baa) of the Act, which deals with the deductions from profits earned from export businesses. The relevant clause reads as under:- "(baa) `profits of the business' means the profits of the business as computed under the head "Profits and gains of business or profession" as reduced by-- (1) ninety per cen....