Law:

Section:

Section 80HHC of the Income-tax Act, 1961 - Deductions - Exporters - Assessment year 1988-89 - Whether benefit of amendment made in section 80HHC by Finance Act No. 2 of 1991 with effect from 1-4-1991 could be extended to the assessee in relation to the assessment year 1988-89 - Held, no CASES REFERRED TO CIT v. Haryana Minerals Ltd. [2005] 276 ITR 399 (Punj. & Har.) [Para 2] and Gem Granitesv. CIT [2004] 271 ITR 322/ 141 Taxman 528 (SC) [Para 3]. Yogesh Putney for the Applicant. JUDGMENT M.M. Kumar, J. - This petition filed under section 256(2) of the Income-tax Act, 1961 (for brevity 'the Act') challenges order dated 28-7-1998 passed by the Income-tax Appellate Tribunal, Delhi Bench (D), New Delhi (for brevity 'the Tribunal') in RA No. 16/Delhi/98 dismissing the application filed by the revenue under section 256(1) of the Act. The revenue has claimed that the following two questions of law deserved to be referred for the opinion of this Court and would emerge from the order dated 3-10-1997 passed by the Tribunal in ITA No. 3957/Delhi/90 in respect of the assessment year 1988-89 : "1. Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal was justified in law in holding that merchandise exported by the assessee do not constitute 'minerals and ores' within the meaning of section 80HHC(2)(b)( ii); and 2. Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal was right in law in giving retrospective effect to the insertion made in sub-clause (ii) of clause (b) of sub-section (2) of section 80 HHC, by Finance (No. 2) Act, 1991 with effect from 1-4-1991?" 2. Mr. Yogesh Putney, learned counsel for the revenue, at the outset has pointed out that in the case of same assessee earlier in respect of assessment year 1984-85, the Tribunal had refused to refer the aforementioned two questions for the opinion of this Court. The aforementioned order of the Tribunal was challenged and accordingly, this Court while allowing ITC No. 40 of 1997 directed the Tribunal exercising power under section 256(2) of the Act to draw the statement of the case and refer the aforementioned two questions for its opinion. He has further…

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