2013 (6) TMI 44

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.... under section 260A of the Income-tax Act, 1961 (for short, "the Act"), directed against the order dated October 5, 2006, passed in I. T. A. No. 3086/Bang/1995, by the Income-tax Appellate Tribunal, Bangalore Bench "A". The Revenue has raised the following substantial questions of law, is listed for hearing : "(1) Whether the Tribunal was correct in reversing the findings of the Assessing Offic....

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....puting deduction under section 80HHE of the Act ?" In so far as the first question is concerned, it is submitted by Sri K. V. Aravind, learned standing counsel for the appellant-Revenue and Sri T. Surya narayan, learned counsel for respondent-assessee that as per the judgment rendered in I. T. A. No. 2973 of 2005* and connected cases on February 13, 2013. We have found that the Tribunal has not....

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....ess of the assessee-company in general and not the gross receipts, as contended by the Revenue ?" On this question, we have heard the learned counsel for the parties. It is submitted that in view of the subsequent decisions of this court and the Supreme Court and particularly in the case of ACG Associated Capsules Pvt. Ltd. v. CIT [2012] 343 ITR 89 (SC) and the issue is concluded holding that i....

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....r of the assessee for the purpose of arriving at the total turnover, as indicated in clause (e) of the Explanation to section 80HHE of the Act, the amount mentioned therein has to be excluded. Even for the purpose of computing the total turnover in terms of clause (e) of the Explanation, one has to necessarily start from the total turnover of the assessee, as otherwise, arriving at, perhaps, such ....