Asin Exim International v. Commissioner Of Income Tax, Jalandhar, Punjab

Income-tax Appeal No.469 *** IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH Income-tax Appeal No.469of 2010 Date of decision: 18.4.2011 Asin Exim International ...Appellant Versus Commissioner of Income Tax, Jalandhar, Punjab ...Respondent and other connected appeals beingITAs No. 496, 497, 498 of 2007, 638, 639 of 2008, 394, 395, 471 of 2009,53,470 and 481 of 2010. CORAM: HON'BLE MR.JUSTICE ADARSH KUMAR GOEL HON'BLE MR.JUSTICE AJAY KUMAR MITTAL Present: Mr. Pankaj Jain, Advocate for the assessee. Mr. Rajesh Katoch, Senior Standing Counsel. Mr. Vivek Sethi, Senior Standing Counsel. **** ADARSH KUMAR GOEL, J. 1.Since the Registry has not been able to send the files ofITAs No.496, 497, 498 of 2007, 638, 639 of 2008, 394, 395, 471 of2009, 53 and 481 of 2010 on account of fire in the Court premises,learned counsel for the assessee has furnished photocopies ofpaper books, which are taken on record. 2.This order will dispose of ITAs No.496, 497, 498 of 2007,638, 639 of 2008, 394, 395, 471 of 2009,53, 469, 470 and 481 of2010 as learned counsel for the assessee appearing in all the caseshas stated that questions of law involved in all these appeals arecommon. *** 3.ITA No.469 of 2010 has been preferred by the assesseeunder Section 260A of the Income Tax Act, 1961 against orderdated 30.10.2009 passed by the Income Tax Appellate Tribunal,Amritsar Bench, Amritsar in ITA No.131(ASR)/2009, for theassessment year 2004-05, raising following substantial questions oflaw:- interpretation of the provisions of section 80HHCr.w. section 80IA(9) r.w. section 80IB(13) theTribunal has erred in restricting the claim ofdeduction to the assessee? ii)Whether the Duty Entitlement Pass BookScheme and interest received is an amount derivedand eligible for claim u/s 80IB?” 4. It is not disputed that the above questions were considered by this Court in Friends Castings (P) Ltd. Vs.Commissioner of Income Tax (2011) 50 DTR Judgments 61 andafter considering the scheme of the relevant provisions, it was heldthat Section 80-IA(9) barred claim for deduction under any otherprovision of the Chapter VI-A if deduction under Section 80-I hasbeen allowed. It is further stated that the same view has been takenby the Kerala High Court in Olam Exports (India) Ltd. Vs.Commissioner of Income Tax (2010) 34 DTR Judgments 133 andDelhi High Court in Great Eastern Exports Vs. Commissioner ofIncome Tax (2011) 49 DTR Judgments 33. Learned counsel for the *** assessee further submits that a different view has been taken by theBombay High Court in Associated Capsules (P) Ltd. Vs. DeputyCommissioner of Income Tax & another (2011) 50 DTRJudgments 65. 5.We have perused the judgment of Bombay High Court.We are not able to persuade ourselves to take a different view fromthe view which we have already taken in Friends Castings (P) Ltd.and also express our respectful agreement with the view expressedby Kerala High Court in Olam Exports (India) Ltd. and Delhi HighCourt in Great Eastern Exports. 6.In view of above, appeals filed by the assessee have tobe dismissed and appeals filed by the revenue have to be allowed.Ordered accordingly. 7.A photocopy of this order be placed on the file of the eachconnected cases. (Adarsh Kumar Goel) Judge April 18, 2011Pka (Ajay Kumar Mittal) Judge