By an order dead 19.8.2002, the said appeal was allowed following a decision of Cochin Bench of the Tribunal in the case of A.M. Mossa v. CIT, in ITA No.
Upon hearing the assessee, by an order dated 3.3.1999, a direction was issued to the assessing officer to withdraw the said relief.
The said benefit having been allowed by the assessing officer while making assessment under Section 143 3 of the Act, the Commissioner of Income Tax in exercise of his power companyferred upon him under Section 263 thereof issued a numberice to the assessee on the premise that the said order of assessment was erroneous and prejudicial to revenue.
The Appellant is, thus, in appeal before us.
It claimed benefit of Section 80HHC of the Income Tax Act, 1961 Act .
A declaration was made by it that its profits out of export of trading goods were negative i.e. it incurred loss.
B. SINHA, J. Leave granted.
The Respondent is an assessee of Income Tax.
It is engaged in the business of expert.
The Respondent preferred an appeal thereagainst before the Income Tax Appellate Tribunal, Bangalore.
