Assistant Commissioner Of Income -Tax v. Jai Bharat Overseas Limited....opponent(S

O/TAXAP/330/2005 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL NO. 330 of 2005 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE KS JHAVERI and HONOURABLE MR.JUSTICE K.J.THAKER ================================================================ 1 Whether Reporters of Local Papers may be allowed to see the judgment ?the judgment ? 2 To be referred to the Reporter or not ? 3 Whether their Lordships wish to see the fair copy of the judgment ?judgment ? 4 Whether this case involves a substantial question of law as to the interpretation of the Constitution of India, 1950 or any order made thereunder ?to the interpretation of the Constitution of India, 1950 or any order made thereunder ? 5 Whether it is to be circulated to the civil judge ? ================================================================ ASSISTANT COMMISSIONER OF INCOME -TAX....Appellant(s) Versus JAI BHARAT OVERSEAS LIMITED....Opponent(s) ================================================================ Appearance: MR SUDHIR M MEHTA, ADVOCATE for the Appellant(s) No. 1RULE SERVED for the Opponent(s) No. 1 ================================================================ CORAM: HONOURABLE MR.JUSTICE KS JHAVERIandHONOURABLE MR.JUSTICE K.J.THAKER Date : 01/12/2014 ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. The Revenue has filed this appeal u/s.260A of the Income Tax Act, 1961 (for short, the Act) being aggrieved by and dissatisfied with the order passed by the Income Tax Appellate Tribunal (for short, the ITAT) in I.T.A. No.183/Ahd/1997 dated 16.04.2003. 2. While admitting the appeal on 27.12.2005, the following substantial questions of law came to be formulated; i. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was justified in law in holding that the proviso to Section 80HHC(3) of the Income-tax Act, 1961 should be read independent of clauses (a) or (b) or (c) and not together, so as to ignore the negative figure or the loss which may be computed as per the aforesaid clauses ?the case, the Income Tax Appellate Tribunal was justified in law in holding that the proviso to Section 80HHC(3) of the Income-tax Act, 1961 should be read independent of clauses (a) or (b) or (c) and not together, so as to ignore the negative figure or the loss which may be computed as per the aforesaid clauses ? ii.Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was justified in law in holding that the duty benefit derived by the assessee would amount to cash assistance within the meaning of Section 28(iiib) of the Income-tax Act, 1961 ?the case, the Income Tax Appellate Tribunal was justified in law in holding that the duty benefit derived by the assessee would amount to cash assistance within the meaning of Section 28(iiib) of the Income-tax Act, 1961 ? 2.Mr. Sudhir Mehta learned Standing Counsel appearing for the Revenue submitted that this matter was ordered to be heard with Income Tax Application No. 214 of 1999 with Income Tax Application No. 215 of 1999 and Income Tax Reference No. 3 of 2000 wherein identical issue was raised and this Court vide judgement and orders dated 29.12.1999 and 16.03.2006 respectively remanded the matter to the Assessing Officer and therefore, the matter may be remanded to the Assessing Officer. 2.Mr. Sudhir Mehta learned Standing Counsel appearing for the Revenue submitted that this matter was ordered to be heard with Income Tax Application No. 214 of 1999 with Income Tax Application No. 215 of 1999 and Income Tax Reference No. 3 of 2000 wherein identical issue was raised and this Court vide judgement and orders dated 29.12.1999 and 16.03.2006 respectively remanded the matter to the Assessing Officer and therefore, the matter may be remanded to the Assessing Officer. 3. We have heard learned counsel for the revenue and have perused the record of the case. Considering the issue involved in Income Tax Application No. 214 of 1999 with Income Tax Application No. 215 of 1999 and Income Tax Reference No. 3 of 2000 which have already been remanded to the Assessing Officer for fresh consideration, this matter is also remanded to the assessing Officer, who shall consider the issue afresh in light of the said decisions and the provisions of law and shall render decision, after considering the contentions raised by both the sides. The Assessing Officer shall decide the issue afresh being uninfluenced by the observations made by the Tribunal, CIT(A) as also by this Court. We have not entered into the merits of the matter. With the above observations, the appeal stands disposed of. (K.S.JHAVERI, J.) divya (K.J.THAKER, J)