9911796707
TMI Blog2018 (8) TMI 986X X X X Extracts X X X X X X X X Extracts X X X X ..... : ADV. SRI.JOY THATTIL ITTOOP, ADV. SRI.BIJISH B.TOM, ADV. SMT.NEVIS CASSANDRA L CAXTON LORETTA, ADV. SRI.JACOB TOMLIN VARGHESE AND ADV. SRI.RAMESH CHERIAN JOHN JUDGMENT Vinod Chandran, J. The only question arising herein is as to whether the respondent-assessee can claim deduction under Section 80 HHC of the Income Tax Act, 1961 ('Act', for short) as a supporting manufacturer. The cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e export of self manufactured goods, which was claimed under Section 80HHC as a deduction. But the assessees export from trading goods suffered a loss of more than six crores. The assessee claimed that the assessee had issued disclaimer certificates to the supporting manufacturer, with respect to the entire turn over of trading goods. The Supreme Court found that the disclaimer of turnover as per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on so much of the turnover of the export house, obtained from the trading goods purchased from the supporting manufacturer, the export house merely passes on the benefit available under Section 80HHC to that supporting manufacturer. The proposition as laid down by the Honourable Supreme Court is unassailable. 3. The Tribunal found that since both the supporting manufacturer and export house had p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal, factually, evidencing the profit made by the export house. In such circumstances, we remand the matter for fresh consideration, to the Tribunal. The respondentassessee shall produce the profit and loss account of the exporter with an application before the Tribunal; which can very well be verified by the revenue also. The assesee shall also produce the disclaimer certificate issued by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 10A. But by the proviso added on amendment by substitution, the undertakings which were entitled under the earlier provision would be so entitled even under the new provision for the unexpired period of entitlement as per the earlier provision. Hence in considering such claim necessarily it would have to be examined whether the asessee had claimed and obtained the exemption in the years earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X
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