2012 (7) TMI 1131

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....stice K. Sreedhar Rao And Hon'ble Mr. Justice B. Manohan For the Appellant : Sri M. Thirumalesh, Advocate. For the Respondent : Sri R. Rama Murthy, Advocate. JUDGMENT These two appeals are filed in which one pertains to the assessment year 2002-03, the other pertains to assessment year 2003-04. Both the appeals involve common question of law. 2. The assessee is an exporter of fa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../2006. 5. With regard to the quantum that requires to be excluded is as to whether this gross value or the net value was also in dispute. The Appellate Tribunal held that exclusion of the receipts is bad in law and it does not constitute parameters of numerator according to formula. The revenue aggrieved by the said order filed ITANo. 903/2007. 6.In both the cases, this court admitted the ap....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....) 343 ITR 89 (SC) has while interpreting clause (1) of Explanation (baa) to Section 80HHC of the Act has held that "it is only net amount that should be excluded and not the gross amount." It is the contention of the appellant in the said decision, question involved was gross rent and gross interest or net rent and net interest and not gross or net job work receipts. Therefore, the decision has no....