TMI Blog2013 (5) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee? - Whether Tribunal justified in directing AO not to exclude this income from the profits eligible for deduction u/s. 80HHC without appreciating that when the assessee enters into a forward contract the assessee stands to benefit by the fluctuations in foreign exchange irrespective of the fact whether the trade agreement exists or not?" - Held that:- Considering the finding of the High ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial leave, is directed against the judgment and order passed by the High Court of Judicature of Gujarat at Ahmedabad in Tax Appeal No. 658 of 2009, dated 29.06.2010. By the impugned judgment and order the High Court has observed that Question Nos 'B' and 'C' would not fall for its consideration and decision on the ground that no question of law would arise on these questions. 4. This Court whil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee? C. Whether on the facts of the case and in law, the Appellate Tribunal was in justified in directing the Assessing Officer not to exclude this income from the profits eligible for deduction u/s. 80HHC without appreciating the fact that when the assessee enters into a forward contract, as in this case, the assessee stands to benefit by the fluctuations in foreign exchange irrespective of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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