2011 (1) TMI 1326

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.....6547/Mum/2006 Dated 05/01/2011 Assessee S/Shri Satish Modi & Dhanesh Bafna. Departmemt Shri Narender Singh. O R D E R PER R.S. SYAL, AM: These two cross appeals - -one by the assessee and the other by the Revenue - arise out of the order passed by the CIT(A) on 09-10-2006 in relation to the asstt. year 2003-04. 2. Ground no.1 of the assessee's appeal is against the inclusion ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....idering the rival submissions and perusing the relevant material on record, it is noted that the Mumbai Bench of the Tribunal in a recent order dated 26-11-2010 in Albright & Wilson Chemicals (I) Ltd. vs. DCIT has decided this issue against the assessee by following the judgment of the Hon'ble Supreme Court in the case of CIT vs. K. Ravindran Nair (2007) 295 ITR 228 (SC). The present A.M. is autho....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pect of exports to associated enterprise. The ld. D.R. fairly conceded that similar issue in the earlier years was decided by the Tribunal against the assessee. In view of this submission, we dismiss these two grounds of appeal.   6. Ground no. 1 of Revenue's appeal is against the exclusion of excise duty and sales-tax from the total turnover for the purpose of computation of deduction u/s....