TMI Blog2012 (6) TMI 827X X X X Extracts X X X X X X X X Extracts X X X X ..... 961. The contents of the Misc. Applications are similar, which read as under:- APPLICATION UNDER SECTION 254 OF THE INCOME TAX ACT 1961. Sir The aforesaid appeal was decided by the Hon'ble Bench by a consolidated order dated 21.11.2011 in ITA No. 926 to 928/2011 for the assessment years 2001-02, 2003-04 2004-05. The issue involved in the appeals related to deduction under section 80HHC on the value of DEPB. The Hon'ble Tribunal vide a consolidated order dated 31.08.2009 in assessee's appeal bearing ITA no. 124/CHANDI/2009 for the Assessment Year 2001-02 remanded the matter to the file of the Assessing Officer to adjudicate the issue afresh in conformity with the decision of the Special Bench in the case of M/s Topma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctified as per as per the decision of the Hon'ble Supreme Court. The Appellant, thus, humbly prays that the order dated 21.11.2011 may be rectified and the AO be directed to decide the issue on the basis of judgment of the Hon'ble Supreme Court. Hence the miscellaneous petition Yours Faithfully For R N Gupta Company Limited Sd/- Managing Director Through Sd/- Subhash Aggarwal 3. We have heard the rival submissions and have also perused the materials available on record. The common grounds No. 1 2 of appeals preferred by the assessee before the Tribunal in ITA Nos. 926 to 928/Chd/2011 were as under:- 1. That the Ld. CIT(A)-I has erred in not following the direction of the Hon'ble Tribunal and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntire facts and circumstances of the present case as well as the settled legal position, we are of the view that the order of the Tribunal deserves to be rectified as the mistake is apparent from record. Accordingly, we rectify our order dated 21.11.2011 with respect to common grounds No. 1 2 passed in ITA Nos. 926 to 928/Chd/2011 relating to assessment years 2001-02, 2003-04 and 2004-05 holding that the issue raised by the assessee is squarely covered by the ratio laid down by the Hon'ble Supreme Court in the case of Topman Exports Vs CIT, Mumbai reported in (2012) 67 DTR (SC) 185, and hence we remand the issue to Assessing Officer with a direction to recompute the deduction u/s 80HHC of the Income Tax Act, 1961 (in short 'the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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