2005 (1) TMI 67

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....- The Income-tax Appellate Tribunal (Delhi Bench "D" Delhi) (for short, "the Tribunal"), has, in compliance with the direction given by this court in I.T.C. No. 40 of 1997, referred the following questions of law for its opinion: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in allowing deduction under section 80HHC of the Income-tax Act, 1961, taking in....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t, "the Act"), at a total income of Rs. 3,56,819. While doing so, the Assessing Officer allowed deduction of Rs. 27,275 under section 80HHG of the Act on the export turnover of Rs. 37,96,486 by assuming that the provision of that section was applicable to the assessee. Subsequently, the assessee filed an application under section 154 of the Act claiming deduction of Rs. 41,674 under section 80HHC ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nswered in favour of the Revenue in view of the judgment of the Supreme Court in Gem Granites v. CIT [2004] 271 ITR 322; [2005] 26 IT Rep 1. In that case, their Lordships interpreted section 80HHC (unamended) along with the amendment made by the Finance (No. 2) Act of 1991, and held as under: "The 'minerals and ores' are expressly excluded under sub-section (2)(b) thereof which exception covere....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t in this case is an exporter of cut and processed granite and wanted the benefit of section 80HHC claiming that the processed granite is not mineral excluded from the benefit of section 80HHC-Having failed to impress the departmental authorities, its plea did not find favour at the High Court also-On further appeal the apex court also dismissed the appeal that up to April 1, 1991, the provision o....