TMI Blog2012 (8) TMI 144X X X X Extracts X X X X X X X X Extracts X X X X ..... r the year 1993-94 Tribunal allowed these issues on merit - with regard to the exclusions to be considered from the total income as well as the turnover covered by the Commissioner's order – matter remanded to AO - IT Appeal Nos. 1483 & 1559 of 2009 - - - Dated:- 4-10-2010 - C.N. Ramachandran Nair and K. Surendra Mohan, JJ. P.K.R. Menon and Jose Joseph for the Appellant. S. Arun Raj for the Respondent. JUDGMENT C.N. Ramachandran Nair, J. Heard senior standing counsel appearing for the appellant and Shri. Arun Raj appearing for the respondent-assessee. Orders under challenge are those issued by the Tribunal for the assessment years 1995-96 and 1996-97. Even though Tribunal has issued separate orders for both the yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner is only a possible view and the view taken by the Officer is also a view possible under the relevant provisions of the Act. 3. After hearing both sides we notice that Tribunal has interpreted the scope of Section 263 as similar to proceedings for rectification under Section 154 of the Income-tax Act. In fact the issue on merit is covered by later decision of the Supreme Court reported in CIT v. K. Ravindranathan Nair [2007] 295 ITR 228/165 Taxman 282. Under this decision the Supreme Court held that income received by the assessee which have no connection to export business should be excluded while computing deduction of export profit under Section 80HHC of the income-tax Act. Therefore, prima facie the case on merits i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is free to contest the issue for subsequent years. However, on merits of the case that is with regard to the exclusions to be considered from the total income as well as the turnover covered by the Commissioner's order, we leave the issues open for the Officer to consider based on the decision of the Supreme Court and after giving opportunity to the assessee. 5. Counsel for the assessee submitted that pursuant to orders issued by the Commissioner assessment was revised making substantial disallowance against which another appeal was filed which the Tribunal closed as infructuous in view of the orders impugned by the revenue in these appeals. Since we have now reversed the orders of the Tribunal, it is for the assessee to move the Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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