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TMI Blog2018 (11) TMI 1554X X X X Extracts X X X X X X X X Extracts X X X X ..... , on the following Substantial Question of Law: "Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the appellant is not entitled to deduction u/s.80HHC in respect of 90% of income from sale of DEPB license?" 3.We have heard Mr.R.Venkatanarayanan, the learned counsel for the appellant/assessee and Mr.Karthik Ranganathan, the learned Counsel for the respondent/Revenue. 4.The learned counsel for the assessee as well as the Revenue agree that the above Substantial Question of Law has been answered in the case of M.Lankalingam vs. The Commissioner of Income Tax, Chennai (T.C.A.No.1013 of 2008, dated 1.8.2018). The operative portion of the judgment reads as follows: "6.Writ Petitions were fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not available after 1.4.05, we are satisfied that cases of exporters having a turnover below and those above 10 cr. should be treated similarly. This order is in substitution of the judgment in Appeal." The decision in the said case has been reported in CIT v. Avani Exports [(2015) 58 taxmann.com 100 (SC)]. 8.In our considered view, the decision in the case of CIT v. Avani Exports (supra) would squarely apply to the facts of this case and the Tribunal committed an error in applying the decision in Sterling Foods (supra). 9.Mr.R.Kumar, learned counsel for the assessee submitted that the Court may set aside the order and direct the relief to be granted, since the Assessing Officer has not given this deduction in the assessment order da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceed to grant proper deduction to the assessee under Section 80HHC of the Act. Since the assessment pertains to the year 2003-04, the Assessing Officer is directed to give priority to the matter and conclude the proceedings within a period of three months from the date of receipt of a copy of this judgment. No costs" 5.Thus, by following the above decision, the Tax Case Appeal, filed by the assessee, is allowed and the order passed by the Tribunal is set aside and the matter is remanded to the Assessing Officer to apply the decision in the case of Avani Exports v. Commissioner of Income Tax [(2012) 348 ITR 391 (Gujarat)] and to proceed to grant proper deduction to the assessee under Section 80HHC of the Act. Since the assessment pertains t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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