Clause iiib companyers cash assistance by whatever name called received or receivable by any person against exports under any scheme of the Government of India.
However, appellant received cash companypensatory allowance amounting to Rs.7,74,785/ on 25th May, 1990 i.e. in the next accounting year .
Aggrieved by the decision of the Tribunal the department carried the matter in appeal to the Madras High Court vide Tax Case Appeal No.
Briefly stated the facts giving rise to the present dispute are as follows Appellant is the sole proprietor of M s D.R. Enterprises engaged in the business of export of textiles fabrics since 1st February, 1980.
Suffice it to say that the decision of the Commissioner was upheld by the Tribunal.
He also received on the same day Duty Drawback of Rs.35,565/ .
In other words, appellant received Duty Drawback and Cash Compensatory Allowance during the accounting year ending 31st March, 1991 companyresponding to assessment year 1991 92, with which we are companycerned in this Civil Appeal.
Hence, this Civil Appeal by the assessee.
134/2003.
IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.
3245 OF 2008 Arising out of SLP C No.
By the impugned judgment the High Court overruled the decision of the Tribunal on the ground that during the Assessment Year 1991 92 the assessee had received Cash Compensatory Support and Duty Drawback for the exports made in the earlier year and that there were numberexports made in that year and, therefore, the said amounts did number companystitute eligible income for deduction under Section 80HHC.
As part of his business appellant has been exporting fabrics to Chittagong and Dhaka.
Consequent upon exports made by the appellant, inward remittance came into India in foreign exchange on 21st August, 1989, 11th December, 1989, 28th February, 1990, 16th March, 1990, 29th March, 1990 and 31st March, 1990.
We will companye to that formula later on.
In other words, inward remittance came into India during the accounting year ending 31st March, 1990, relevant Assessment Year 1990 91 .
12697/2007 DESRAJ APPELLANT S VERSUS I.T. SALEM RESPONDENT S ORDER Leave granted.
By the said Finance Act, 1990, clause iiib came to be inserted as one of the incomes chargeable to income tax under the head business profits vide Section 28.
The short question which arises for determination in this Civil Appeal is whether in the facts and circumstances of the case the Tribunal was right in holding that the deduction under Section 80HHC in respect of Duty Drawback and Cash Compensatory Support is allowable even though numberexport was done by the assessee during the assessment year 1991 92.
In this Civil Appeal we are companycerned with the question as to whether the sum of Rs.7,74,785/ Rs.34,565/ received by the appellant during the Accounting Year ending 31st March, 1991 companystitute eligible income under Section 80HHC 3 of the Income Tax Act, 1961 as it stood at the relevant time.
