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Section 80HHC of Income-tax Act, 1961 - Deductions - Exporters Where question was whether loss sustained by assessee in earlier years should or should not be given deduction for purpose of computation under section 80HHC, Assessing Officer was directed to follow guidelines in Synco Industries' case in computing deduction under section 80HHC [Assessment year 1996-97] [Remanded] CIT v. Pro Seal Closures (P.) Ltd. [2009] 314 ITR 132 (Kar.) The Supreme Court in Synco Industries Ltd. v. Assessing Officer (Income-tax) [2008] 299 ITR 444 has held as to how the loss sustained by the assessee for the earlier years has to be considered. Where the question was whether the loss sustained by assessee in the earlier years should or should not be given deduction for the purpose of computation under section 80HHC, the Assessing Officer was directed to follow guidelines in Synco Industries' case in computing the deduction under section 80HHC. M.V. Seshachala for the Appellant. S.N. Shyanbhog for the Respondent. JUDGMENT K.L. Manjunath, J.-This appeal is by the Revenue challenging the order passed by the Commissioner of Income-tax (Appeals), Bangalore, dated February 7, 2001, and the order passed by the Income-tax Appellate Tribunal, Bangalore Bench in ITA. No. 390/Bang/2001, dated February 20, 2004, for the assessment year 1996-97. 2. The only point in dispute before the Assessing Officer was while computing deduction under section 80HHC, whether the loss incurred by the assessee for the previous years has to be given set off or not. The Assessing Officer while passing an order of assessment held that the loss sustained by the assessee for the earlier years should be given set off. But, it was contended by the assessee that the loss sustained in the previous years need not be given set off. The contention of the assessee was overruled by the Assessing Officer and accordingly, an order of assessment was passed. 3. Being aggrieved by the order of the Assessing Officer, the assessee filed an appeal before the Commissioner of Income-tax (Appeals), who allowed the appeal in part and held that the loss incurred by the assessee for the earlier years has to be given deductions, while…

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