- (1.) This Larger Bench of three Judges has been constituted, to decide the questions of law, referred by a Division Bench on 21.07.2003, as follows:- "(1) Whether the assessee is entitled for deduction under section 80 HHC on interest income of Rs.1,76,930/- as per law as existing at the relevant assessment year? (2) Whether the amendment in section 80 HHC, by way of insertion of sub-section (4B) excluding interest income for the purpose of deduction under section 80 HHC will affect the deduction of interest income under section 80 HHC for the period prior to amendment? (3) In case the assessee is not earning income in convertible foreign exchange by way of an interest on the money advanced, even then, whether the assessee is eligible for deduction under section 80 HHC of the Act?"
(2.) For the purpose of deciding the questions of law, referred to above, we are referring to the facts of D.B. Income Tax Appeal No.13/2002.
(3.) The Income Tax Appeal was filed against the order dated 25.09.2001, passed by the Income Tax Appellate Tribunal, Jaipur Bench, Jaipur in Income Tax Appeal No.1642/JP/93, for Assessment Year 1989-90.;