THE COMMISSIONER OF INCOME TAX vs. THE PRINTERS HOUSE LTD.

The following substantial questions of law arise for determination : ?(1) Whether the ITAT was correct in law in allowing the benefit under Section 80HHC of the Income Tax Act to the assessee on the amount of Rs.20,74,635/- being the amount received by the assessee due to foreign exchange variation in sale proceeds of goods exported in earlier years? (2) Whether the provisions of explanation (baa) (1) to Section 80HHC are . . . applicable to the amount received by the assessee on account of foreign exchange fluctuation so as to reduce the same by 90% while computing the deduction under the said provision?? Paper books to be filed within three months in accordance with the High Court Rules. Post for hearing along with ITA No. 1021/2005. . . T.S. THAKUR, J . . B.N.CHATURVEDI, J NOVEMBER 21, 2005 pk.