Income-tax Appeal No.611 of 2010 -1- **** IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 1. Income-tax Appeal No.611 of 2010 Date of decision: 10.12.2010 M/s Paliwal Exports, Paliwal Nagar, Panipat ...Appellant Versus ACIT, Central Circle, Karnal ...Respondent 2. Income-tax Appeal No.612 of 2010 M/s Paliwal Exports, Paliwal Nagar, Panipat ...Appellant Versus ACIT, Central Circle, Karnal ...Respondent CORAM: HON'BLE MR.JUSTICE ADARSH KUMAR GOEL HON'BLE MR.JUSTICE AJAY KUMAR MITTAL Present: Mr. R.P.Sawhney, Senior Advocate with Ms. Amandeep Sibia, Advocate for the appellant. **** ADARSH KUMAR GOEL, J ( Oral) . This order will dispose of ITA Nos.611 and 612 of 2010. Income Tax Appeal No.611 of 2010 has been preferred under Section 260-A of Income Tax Act, 1961 by the assessee against order dated 13.4.2007 of the Income Tax Appellate Tribunal, Delhi Bench(G), Delhi passed in ITA No.2677/DE/2006 in respect of Income-tax Appeal No.611 of 2010 -2- **** assessment year 2000-01, proposing to raise following substantial questions of law:- “1. Whether on the facts and circumstances of the case, the interpretation of Section 80HHC with regard to deduction of 90% of the net interest from the income from business is legally sustainable? 2. Whether in the facts and circumstances of the case, the Tribunal was legally justified in taking into account 90% of the gross income of interest for the purpose of deduction under Section 80HHC for determining the export profit? We have heard learned counsel for the appellant. Learned counsel for the appellant does not dispute that the matter is covered against the assessee by an earlier order of this Court in ITA No.405 of 2010 (M/s Paliwal Exports Vs. ACIT, Central Circle, Karnal) decided on 27.8.2010. Accordingly, both these appeals are dismissed. (Adarsh Kumar Goel) Judge December 10,2010 (Ajay Kumar Mittal) Pka Judge