- (1.) All these appeals, as they involve similar substantial question of law, are being decided by this common order. These appeals have been filed by the Revenue under s. 260A of the IT Act, 1961 (for brevity, hereinafter referred to as 'the Act') being aggrieved by orders passed by the Tribunal, Benches at Jodhpur whereby learned Tribunal decided appeals of respective parties, by holding that cutting and polishing of marble blocks exported by the assessees had led to high value addition and thereby the assessees were eligible for deductions under s. 80HHC of the Act during the relevant assessment years.
(2.) While admitting present appeals of the Revenue, a Co-ordinate Division Bench of this Court framed following substantial question of law under s. 260A of the Act: Whether in the facts and in the circumstances of the case as well as in the law, the learned Tribunal was justified in directing to allow deduction under s. 80HHC on export of marble blocks which were not polished, as required vide item (x) of the Twelfth Schedule and ignoring the fact that there was no value addition in terms of cost of exported blocks as required in Circular No. 693, dt. 17th Nov., 1994 ?
(3.) The learned counsel for the appellant-Revenue, Mr. K.K. Bissa, submitted that the marble blocks, which were exported by assessees, were not 'polished' as required by Twelfth Schedule and there was no value addition in terms of cost of exported blocks. He further submitted that the assessees are not entitled to deduction under s. 80HHC of the Act.;