2005 (12) TMI 58 - HC - Income Tax

Special Deduction - "(A) Whether Tribunal was justified in holding that the exchange rate difference pertaining to exports made in earlier years was 'profit of business' within the meaning of section 80HHC of the Act? (B) Whether Tribunal was justified in holding that the issue was squarely covered by the decision of the jurisdictional High Court in the case of Hindustan Trading Corporation v. CIT when the issue before the High Court in the said case was totally different? (C) Whether Tribunal was justified in holding that 'any other receipt of a similar nature' as mentioned in Explanation (baa) to section 80HHC(4B) would not include receipt on account of exchange rate difference?"