2003 (3) TMI 78

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.....- Since a common question of law is involved in all these petitions, the same are being disposed of by this common order. At the outset, learned counsel for the petitioners has withdrawn the challenge to the vires of Explanation (aa) added to sub-section (4B) of section 80HHC of the Income-tax Act, 1961. He simply prayed that the petitioners are entitled for the benefit of section 80HHC of the....

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....the case of ITO v. Vaibhav Textiles [2002] 258 ITR 346 and the decision of their Lordships in the case of CIT v. Silver and Arts Palace [2003] 259 ITR 684 (SC) (Civil Appeal No. 4478 of 2001, decided on December 18, 2002). As learned counsel for the petitioners has not pressed the ground challenging the validity of clause (aa) of Explanation 2 to sub-section (4B) of sec tion 80HHC of the Act, t....