COMMISSIONER OF INCOME TAX Vs. NAHAR EXPORTS LTD.

JUDGEMENT

(1.) The Revenue has approached this Court by filing the present appeal, raising the following substantial questions of law, arising out of order dt. 18th Dec, 2003 passed by the Income Tax Appellate Tribunal, Chandigarh Bench 'A', Chandigarh (for short, 'the Tribunal'), in ITA No. 1050/Chd/1996 for the asst. yr. 1994 -95:

(2.) Whether on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that for the purpose of computation of deduction under Sec. 80HHC of the IT Act, 1961, sales -tax and Central sales -tax cannot be excluded (sic -included) in the total turnover?

(3.) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in directing computation of interest income for the purpose of deduction under Sec. 80HHC as per Clause (baa) of the Explanation to Sec. 80HHC for computing the eligible profits and gains of business?