2017 (8) TMI 617

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....gainst the order passed by the Income Tax Appellate Tribunal in I.T.A. No. 412/2009 concerning the assessment year 2000-2001. While completing the assessment, the assessee was allowed deductions under Section 80HHC amounting to Rs. 85,47,974/- and subsequently the Assessing Officer found that in computing deductions under Section 80HHC, 90% of Miscellaneous receipts of Rs. 33,45,844/-, Written bac....

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....order which is challenged before us and the questions of law framed for consideration of this Court read as under: 1. Whether on the facts and in the circumstances of the case has not the Tribunal erred in confirming the CIT(A)'s decision in directing the Assessing Officer to recompute the deduction u/s. 80HHC including 90% of the written back provisions and liabilities written back as busi....

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.... to qualify for deductions under Section 80HHC, the profit must have been derived by the assessee from the export of goods on merchandise. It is on this basis that the Revenue contends that the written back provision of Rs. 60,646/- and liabilities written back of Rs. 28,84,535/- do not qualify for deduction. 4. However, on materials we find that, as rightly found by the Tribunal, the credits a....