- (1.) This appeal under Section 260-A of the Income Tax Act, is directed against the order dated 19.6.2000 passed by the Income Tax Appellate Tribunal, Jaipur Bench, Jaipur. It pertains to assessment year 1995-96.
(2.) The appeal was admitted on the following substantial questions of law :- "(i) Whether Tribunal was justified in holding that assessee (respondent) is entitled to claim deduction under Section 80HHC (ii) Whether the Tribunal was justified in holding that assessee complied with the mandatory requirement of Section 80HHC(4) and hence entitled to claim benefit of the said Section while calculating his income tax liability on his gross turnover -
(3.) The brief facts noticed for disposal of this appeal are that the respondent assessee derives income from share of profit from firm and export business. The export business is conducted in the name and style of Lotus International. The assessee claims to have filed return of income on 31.10.1995 declaring total taxable income of Rs.1,59,029/-, and inter alia also claimed exemption under Section 80HHC of the Income Tax Act at Rs.1,07,33,971/-. It transpired during the course of processing under Section 143(1)(a) that though the assessee has claimed deduction under Section 80HHC but the required certificate of a Chartered Accountant claiming deduction under Section 80HHC was not enclosed along with the return of income and accordingly the claim was rejected vide order dated 24.1.1999.;