R.K.AGRAWAL,J. - (1.) Leave granted.
(2.) The above batch of appeals is related to the interpretation of the provisions contained in Section 80HHC of the Income Tax Act, 1961 (in short 'the IT Act').
(3.) SLP (C) 8368 of 2009 (a) M/s. Carpet India (P) Ltd.-the assessee is a partnership firm deriving income from the manufacturing and sale of carpets to M/s. IKEA Trading (India) Ltd. (Export House) as supporting manufacturer. (b) The assessee filed a 'Nil' return for the Assessment Year (AY) 2001-2002 on 30.10.2001, inter alia, stating the total sales amounting to Rs. 6,49,83,432/- with total export incentives of Rs. 68,82,801/- as Duty Draw Back (DDB) and claimed deduction under Section 80HHC amounting to Rs. 1,57,68,742/- out of the total profits of Rs. 1,97,10,927/- at par with the direct exporter. (c) On scrutiny, the Assessing Officer, vide order dated 25.02.2004, allowed the deduction under Section 80HHC to the tune of Rs. 1,08,96,505/- instead of 1,57,68,742/- as claimed by the assessee while arriving at the total income of Rs. 57,18,040/. (d) Being aggrieved, the assessee preferred an appeal before the Commissioner of Income Tax (Appeals) which was allowed vide order dated 12.08.2004 while holding that the assessee is entitled to the deduction of export incentives under Section 80HHC at par with the exporter. (e) The Revenue went in appeal before the Income Tax Appellate Tribunal (in short 'the Tribunal') as well as before the High Court but the same got dismissed vide orders dated 23.02.2007 and 13.05.2008 respectively leaving it to take recourse of this Court by way of special leave. (f) Since a common question of law has arisen in these appeals, it will be disposed of by this common order.;