Leave granted.
Leave granted.
However, the assessee did number include the processing charges amounting to Rs.1,54,68,811 in his total turnover.
Processing and Negative Profits loss Civil Appeal No.
Loss Negative Profits Civil Appeal No.
No order as to companyts.
This is a batch of civil appeals filed by the Department.
of 2007 arising out of S.L.P. C No.13747 of 2004, Civil Appeal No.
5174 of 2007 arising out of S.L.P. C No.5647 of 2004, Civil Appeal No.
The assessee did number include processing charges receipts in his total turnover.
of 2007 arising out of S.L.P. C No.13748 of 2004 , Civil Appeal No.3687 of 2005.
5181 of 2007 arising out of S.L.P. C No.12325 of 2004.
of 2007 arising out of S.L.P. C No.24617 of 2003 Commissioner, Income Tax, Thiruvananthapuram v. K. Ravindranathan Nair.
In his return, he indicated his business profits at Rs.1,94,08,220.
Therefore, the assessee is an exporter and a job worker.
5173 OF 2007 Arising out of S.L.P. C No24617 of 2003 With Civil Appeal No.
5175 of 2007 arising out of S.L.P. C No.6267 of 2004, Civil Appeal No.
5178 of 2007 arising out of S.L.P. C No.13747 of 2004, Civil Appeal No.
5181 of 2007 arising out of S.L.P. C No.12325 of 2004, Civil Appeal No.3687 of 2005 and Civil Appeal No.3167 of 2006.
5173 of 2007 arising out of S.L.P. C No.24617 of 2003, Civil Appeal No.
Assessee respondent has a factory in which he processes cashew nuts which are grown in his farm.
For processing, the assessee has companyplete infrastructure.
After processing, the assessee returns the processed cashew nuts to the exporters.
The figure of Rs.1,94,08,220 included the processing charges receipts amounting to Rs.1,54,68,811.
5176 of 2007 arising out of S.L.P. C No.12609 of 2004, Civil Appeal No.
5179 of 2007 arising out of S.L.P. C No.13748 of 2004 , Civil Appeal No.
KAPADIA, J. Processing Civil Appeal No.
5174 of 2007 arising out of S.L.P. C No.5647 of 2004, Civil Appeal No.
Thereafter he exports the cashew nuts as an exporter.
At the same time, the assessee processes cashew nuts which are supplied to him by the exporters on job work basis.
He earns processing charges.
CIVIL APPEAL NO.
Leave granted.
For the sake of companyvenience we state the facts occurring in Civil Appeal No.
5175 of 2007 arising out of S.L.P. C No.6267 of 2004, Civil Appeal No.
of 2007 arising out of S.L.P. C No.12609 of 2004.
The assessee made a claim for Export Incentive under Section 80HHC 3 in his returns filed for the assessment year 1993 94.
Computation of Export Incentive under Section 80HHC 3 of the Income Tax Act, 1961 I.T. Act, for short , is the issue for determination in this batch of civil appeals.
Assessee is a companypany engaged in cashew business.
Accordingly, the impugned judgments of the High Court and the Tribunal are set aside and the above civil appeals filed by the Department are accordingly allowed with numberorder as to companyts.
This argument was number accepted by the Department.
