Issues pending before Special Bench of ITAT
1. Deduction u/s 80IB(10)
1. Whether deduction u/s 80IB(10) of the Act, as applicable prior to 01-04-2005, is admissible in the case of a “Housing Project” comprising residential housing units and commercial establishments?
2. In case the question no.1 is answered in affirmative, whether considering the facts and circumstances of a particular case, a proportionate deduction should be allowed?
3. In case the question no.1 and 2 are answered in the affirmative, whether the limit prescribed by clause (d) of section 80IB(10) should operate?
2. Treatment of Exchange rate difference in relation to export turnover as per section 80HH C
1. Whether the difference on account of fluctuation in exchange rate relating to sale proceeds of exports effected in the earlier year should be treated as export turnover of the year in which such rate difference is received or of the year of export?
2. If the aforesaid sum is to be treated as export Turnover of the year of export, whether such receipt should also be considered as income of the year of export and consequently, be excluded from the year of receipt?
“ 3. Amendment via Miscellaneous Application
Whether the order of the Tribunal requires to be amended under section 254(2) in order to bring the same in conformity with the judgment of the jurisdictional High Court rendered subsequent to the passing of the order? ”
4. Secret Formula or process as per section 9(1)(vi)
1. Whether the services rendered by the assessee through their satellites for telecommunication or broadcasting, amount to ‘' secret process or only process"?
2. Whether the term ‘secret' appearing in the phrase ‘secret' formula or process' in Explanation 2 to section 9(1)(vi) and in the relevant the Treaties, will qualify the word ‘process' also? If so, whether the services rendered through secret process only will be covered within th e meaning of royalty?
3. Whether, on the facts and in the circumstances of the case, the payment received by the assessees from their customers on account of use their satellites for telecommunication and broadcasting amounts to ‘royalty' and if so, whether the same is liable to tax under section 9 (1)(vi) of the Income Tax Act, 1961 read with relevant provisions of DTAA?
5. Time-share membership fee receivable upfront at time of enrolment.
Whether the entire amount of the time-share membership fee receivable by the assessee upfront at the time of enrolment of a member is the income chargeable to tax in the initial year when there is a contractual obligation fastened to the receipt to provide the services in future over the term of the contract? ”
6. Deduction u/s 80IA and Duty Drawback
Whether the duty drawback receipts will qualify for deduction u/s 80IA for the assessment year 1997-98?
7. Deduction for pre-paid lease rent
Whether the Assessee is entitled to get the deduction of the pre-paid lease rent for which the liability has arisen during the previous year relevant to the concerned Assessment Year? ”