2016 (8) TMI 563

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.... HS MUNSHAW, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1) By way of this Appeal, the Appellant - Department has challenged the order dated 30.04.2007 of the Income Tax Appellate Tribunal, Ahmedabad Bench 'D' in ITA No.1840/Ahd./2004 for the Assessment Year : 2001-2002 whereby the Tribunal gave findings in favour of the assessee and against the Department. 2) Whi....

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....tors reported in [2008] 296 ITR 440 (Guj), wherein the issue was decided in favour of the Department and where it was held that income of interest on deposits, export incentives, octroi refund and sales in India are not part of the total profits to work out the total turnover and qualifying profit of the assessee. These receipts are not required to be considered for deduction under section 80HHC o....

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.... Court of Delhi in the case of CIT v/s. Shri Ram Honda (289 ITR 475) [Delhi]. 4. The CIT(Appeals) has decided the issue by observing as under :- "5.5. I have carefully gone through the above submissions of the authorized representative and the order of the AO and arguments made by the ACIT during the appellate proceedings. In view of the decision of Hon'ble Supreme court (supra) the interes....

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....he CIT (Appeals) is modified to this extent." 5) Though learned Senior Counsel Mr. Mihir Thakore appearing for the respondent - assessee has raised a contention that the cross objections of the assessee are not decided, but from the record it transpires that the cross objections were filed in another Appeal, which is reproduced in Paragraph 7 of the order of the Tribunal. 6) We have learned Coun....