2015 (1) TMI 427

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....ndered in ITA Nos. 353 & 354/RJT/2004 for the A.Ys. 1996-97 and 1997-98, respectively. 3. The brief facts of the case are that the common respondent-assessee in both the appeals, filed its returns of income for the respective assessment years. Pursuant thereto, the cases of the assessee for the relevant assessment years came to be examined and at the end of assessment proceedings, the concerned AO made certain additions / disallowances to the income of the assessee, herein. Being aggrieved with the same, the assessee approached the learned CIT(A) by filing separate appeals for the respective assessment years and the CIT(A) allowed both the appeals filed by the assessee. The Revenue, hence, carried the matter before the Tribunal, wherein,....

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....d that the Tribunal overlooked the provisions of Section 80HHC of the Income Tax Act, 1961 (for short, 'the Act'), which envisages deductions from the income derived from the export. He, further, submitted that the CIT(A) as well as the Tribunal erred in holding that the issue involved in this appeal is covered by the decision of the High Court of Kerala in the case of "BABY MARINE EXPORTS VS. ACIT", 262 ITR 88. He, therefore, submitted that present appeals be allowed. 8. On the other hand, Mr. Patel, learned Advocate for the common assessee in both the appeals, supported the orders of the CIT(A) as well as the Tribunal and submitted that there being concurrent findings in favour of the assessee, present appeals be dismissed. He,....