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TMI Blog2013 (6) TMI 162X X X X Extracts X X X X X X X X Extracts X X X X ..... RT:- Heard learned counsel for the parties. 2. While admitting the appeal on 24th November, 2010 the following substantial questions of law were framed:- "(1) Whether the Tribunal was justified in holding that the assessee is not entitled to claim the benefit of Section 80HHC in respect of the work done by the assessee under the name of "Job Charges"? (2) Whether the Tribunal was justified in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the questions, which arise in the present matter have been mentioned in Para 7 of the memo of appeal, therefore, the same may be considered as the substantial questions of law. 5. Learned counsel for the respondent submitted that none of the questions formulated in the memo of appeal can be said to be a question of law. 6. We have considered the submissions of learned counsel for the par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same as not directly related to the business activity of the assessee. The order of the Assessing Officer was reversed by Commissioner of Income Tax (Appeal). However, on an appeal filed by the assessee, the Income Tax Appellate Tribunal came to a conclusion that a sum of Rs. 8,37,581/- shown as net gain on exchange rate and Rs. 4,83,263/- shown as commission received are part of profit of bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d as postage and insurance charges. So far as postage and insurance charges is concerned, the matter has been remanded to the Assessing Officer and so far as amount of Rs. 14,00,817/- received towards interest is concerned, we find that the Income Tax Appellate Tribunal was absolutely justified in coming to a conclusion that the said amount cannot be business income. In these circumstances, we fin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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