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TMI Blog2024 (12) TMI 1347X X X X Extracts X X X X X X X X Extracts X X X X ..... ates. For the Respondent: Mr. J.V. Prasad, learned Senior Standing Counsel for Income Tax Department. JUDGMENT PER (THE HON'BLE THE CHIEF JUSTICE ALOK ARADHE) Mr. M. Sridhar, learned counsel represents M/s. CKR Associates for the appellant. Mr. J.V. Prasad, learned Senior Standing Counsel for Income Tax Department appears for the respondent. 2. This appeal under Section 260A of the Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he return of income, the assessee had declared the income of Rs. 47,94,40,392/- before claiming deductions under Section 80HHC and Section 80G of the Act. The assessee claimed deduction of Rs. 1,12,37,088/- under Section 80HHC of the Act, which was computed by treating various heads of income amounting to Rs. 552.60 lakhs as profits of business. The return of income was processed under Section 143 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... '), who by order dated 02.12.2002, inter alia held that miscellaneous receipts ought to be reduced by 90% as per Explanation (baa) of Section 80HHC of the Act. Accordingly, the appeal was dismissed. The assessee thereupon filed an appeal before the Tribunal. The Tribunal, by the impugned order dated 28.02.2007, affirmed the order passed by the CIT(A) and dismissed the appeal. Hence, this appeal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Counsel for the Revenue has supported the order passed by the authorities under the Act and submitted that the assessee has failed to establish that the amount of Rs. 5,52,60,467/- was received from the export business. It is also urged that the matter stands concluded by findings of fact against the assessee. 9. We have considered the rival submissions made by both sides and have perused the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11. The finding recorded by the authorities under the Act neither suffers from any infirmity nor can the same be termed as perverse. 12. For the aforementioned reasons, the substantial question of law framed by this Court is answered in the negative and against the assessee. 13. In the result, the appeal fails and is, hereby, dismissed. No costs. 14. As a sequel, miscellaneous petitions, pendin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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