2008 (9) TMI 26

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.... HON'BLE MR JUSTICE RAJIV SHAKDHER BADAR DURREZ AHMED, J (ORAL) 1. This appeal is directed against the Income Tax Appellate Tribunal's order dated 30.11.2007 passed in ITA No. 4992/Del/ 2003 pertaining to the assessment year 2000-01. 2. The Assessee is engaged in the business of manufacturing of computer related products including floppies and compact discs. The said business is carried on thr....

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....n 75% of the total sales made during the year under consideration. The Assessing Officer did not accept the assessee's explanation that the stock transfers to the Rotterdam unit were actually export sales. It was the view of the Assessing Officer that this did not constitute direct exports as the same was not backed by actual sale. Consequently, the Assessing Officer held that the profits of the a....

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.... was a arms length price amount to export, entitled the assessee therein to claim exemption under Section 10A of the said Act. Following this decision, the Tribunal agreed with the plea raised by the Assessee and rejected the Revenue's contention that the Assessee was not entitled to exemptions under Section 10A/10B of the Act. 5. Apart from this, the Tribunal also considered the fact that in the....