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2003 (4) TMI 78 - CALCUTTA HIGH COURT
"(1) Whether, Tribunal was right in law in holding that the sale proceeds of Rs. 7,25,854 received by the assessee on the sale of the export licence represented capital receipt and was exempt from income-tax? - (2) Whether, Tribunal was right in law in holding that the provisions of section 28(iiia) were not applicable to the receipt of the aforesaid sum? - (3) If the answer to the above questions are in the affirmative, whether the Tribunal was right in law in holding that the export licence had no cost of acquisition and the sale proceeds thereof were not liable to capital gains tax? - (4) Whether, Tribunal was right in law in holding that the assessee was entitled to the deduction under section 80HHC in spite of the fact that the audit report in Form No. 10CC-AC required to be filed along with return of income under sub-section (4) of section 80HHC was filed only before the Tribunal?"