COSMO FILMS LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This appeal was admitted on the following substantial questions of law:

(2.) These questions have arisen in the following factual backdrop:

(3.) Vide assessment order dated 31.3.2006, the Assessing Officer (AO) held that in computing deduction under Section 80HHC of the Act, brought forward losses from both export ad non-export activities were liable to be set off.