TMI Blog1999 (9) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... he IT Act, 1961 (in short 'the Act'), the Tribunal, Cochin Bench, has referred followed question for opinion : "Whether, on the facts and in the circumstances of the case, the assessee, engaged in the processing and export of shrimps, is entitled to the benefit of ss. 80HH and 80-I of the IT Act, 1961? 2. Factual position which is undisputed is as follows : Assessee is a private limited comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowed. Being not satisfied with the decision of the Tribunal, Revenue filed an application under s. 256(1) of the Act. The Tribunal rejected the application and thereafter, an application under s. 256(2) of the Act was filed, where direction was given to refer the question quoted above for opinion. Pursuant to the direction, the Tribunal has referred the question along with statement of case. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 99) 152 CTR (SC) 500: (1999) 237 ITR 59 (SC). In the said case the question that was referred to reads as follows : "Whether, on the facts and in the circumstances of the case, (i) the assessee's business involves 'production'? (ii) the assessee is entitled to exemption under s. 80HH of the IT Act, 1961 ?" The apex Court held that the assessee was not entitled for exemption. In Sterling Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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