COMMNR. OF INCOME TAX-VII, NEW DELHI Vs. PUNJAB STAINLESS STEEL INDUSTRIES

JUDGEMENT

(1.) Being aggrieved by the judgment delivered in ITA No. 520 of 2006 dated 19th January, 2007, by the High Court of Delhi, this Appeal has been filed by the Commissioner of Income Tax.

(2.) The facts giving rise to the present appeal, in a nutshell, are as under:

(3.) For the purpose of calculating the deduction, according to the provisions of Section 80HHC of the Act, one has to take into account the profits from the business of the assessee, export turnover and total turnover. The deduction, subject to several other conditions, incorporated in the Section, is determined as under: