2003 (1) TMI 89 - HC - Income Tax

Deduction under sections 80HHC - "Whether labour charges (job work receipts) received by the assessee stood excluded from the expression 'profits of business' under Explanation (baa) to section 80HHC and whether the Tribunal was right in holding that 90 per cent. of the labour charges ought not to have been excluded from such business profits while computing deduction under section 80HHC?" - we answer the above question in the affirmative, i.e., in favour of the assessee and against the Department.