COMMISSIONER OF INCOME TAX vs. M/S GLAXO SMITHKLINE ASIA P.LT

Admit.

After hearing learned counsel for the parties, the following substantial questions of law are framed for determination:- (a) Whether ITAT was correct in law in holding that while computing deduction under Section 80HHC (3)(b) only those indirect cost which are attributable to the exports are to be excluded from the turnover derived from export of trading goods? . (b) Whether ITAT was correct in law in holding that 90% of royalty income is not to be excluded from the profits of the business as per Explanation (baa) while computing deduction under Section 80HHC? . ITA 593/2006 Page 1 of 2 Appellant is directed to file the paper books within three months in accordance with the High Court Rules.

List in due course. . . . . . VIKRAMAJIT SEN, J . . . . S. MURALIDHAR, J NOVEMBER 27, 2006 nj . . . . . . . ITA 593/2006 Page 2 of 2 .

File not received . 141