BHARAT INDUSTRIAL ENTERPRISES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS order shall dispose of the above mentioned Income Tax Appeals filed under Section 260 -A of the Income Tax Act, 1961 (for short the 'Act') arising out of the Assessment Years 1999 -2000, 2000 -2001 and 2001 -2002.

(2.) DURING the course of arguments, learned counsel for the appellant has addressed the arguments on question No.(v), which reads as under: -

(3.) LEARNED counsel for the respondent could not dispute the argument raised, as the issue is said to be covered by the judgment of Hon'ble the Supreme Court in Topman Exports' case (supra). Consequently, the above question of law is answered in favour of the assessee and against the Revenue. The matter is remitted back to the Assessing Officer for re -computation of the deduction admissible to the assessee under Section 80HHC of the Act. Appeals stand disposed of.