2005 (12) TMI 72

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....e Tribunal, Ahmedabad Bench "C", has referred the following two questions under section 256(1) of the Income-tax Act, 1961 ("the Act") at the instance of the Commissioner of Income-tax: "1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that, while computing the export development allowance under section 80HHC, the total sales, export sales a....

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....he assessee carried the matter in appeal before the Tribunal who, vide its impugned order, accepted the claim of the assessee. Heard Mr. M.R. Bhatt, learned senior standing counsel for the applicant-Revenue. It was submitted that the Tribunal had committed an error in granting relief to the assessee and for this purpose he placed reliance on the apex court decision in the case of IPCA Laborator....

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....from export of goods or merchandise out of India have to be computed for the purpose of working out the relief to which an assessee is entitled under sub-section (1) of section 80HHC of the Act. Under clause (b) of sub-section (3) of section 80HHC of the Act the parameters that are required to be taken into consideration are the profits and gains of business, the export turnover and the total turn....