OM SONS INTERNATIONAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This appeal under section 260A of the IT Act, 1961 (for short ''the Act'') has been filed by the assessee against the order dt. 16th Oct., 2009, passed by the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar (in short ''the Tribunal'') in ITA No. 332/Asr/2009, relating to the asst. yr. 2000-01.

(2.) The following substantial questions of law have been claimed for determination of this Court :

(3.) The facts, in brief, necessary for adjudication as narrated in the appeal, are that the assessee is a partnership firm. It is engaged in the business of manufacturing, assembling, processing and exporting goods to various parts of the world. The assessee filed return for the assessment year in question on 31st Oct., 2000 declaring total income of Rs. 11,05,920. The income'' also included deduction of Rs. 1,18,10,594' claimed' under' section ' 80HHC' of the' Act.' The' return' was processed under section 143(1) on 28th March, 2002. However, reassessment proceedings under section 147/ 148 of the Act were initiated. The AO vide order dt. 26th Dec, 2007 computed the taxable income,-of the assessee at Rs. 1,29,16,510. The appeal carried by the assessee to the Commissioner of Income-tax (Appeal) [for short ''the CIT(A)''], was dismissed vide order dt. 11th May, 2009.