2008 (9) TMI 26

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... HON'BLE MR JUSTICE BADAR DURREZ AHMED 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 c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the Act, since its direct exports were less than 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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ntity to its head office situated outside, since it 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 th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s as they stood for the relevant time in relation in the assessment year 2000-01 permitted the export oriented undertakings to claim exemption provided 75% of the total sales comprised of exports. In the factual background narrated above, we find that 75% of the assessee's total sale by the eligible units comprised of exports. This is a pure finding of fact and based upon this, the Tribunal has co....