COMMISSIONER OF INCOME TAX Vs. SUBHASH CHAND RASTOGI

JUDGEMENT

(1.) BY order dated 18.03.2003, the following substantial question of law was framed in this appeal filed by the Revenue which pertains to the Assessment Year 1991 -92: -

(2.) THE impugned order dated 20.11.2001 of the Income Tax Appellate Tribunal ("Tribunal'' for short) was passed in ITA No. 5350/DEL/94.

(3.) THE respondent assessee an individual in his return of income filed on 31.10.1991 declared taxable income of Rs. 20,000/ - after claiming deduction of Rs. 45,51,898/ - under Section 80HHC of the Income Tax Act, 1961 ("Act? for short) on account of export of Zinc Oxide. The Assessing Officer disallowed the deduction under Section 80HHC on export of Zinc Oxide on two grounds; (i) the export had been to Nepal and therefore, was not eligible under Section 80HHC of the Act and (ii) Zinc Oxide was a mineral and thus, Section 80HHC of the Act would not be applicable.