Cg Lucy Switchgear Limited v. Asstt. Commissioner Of Income-Tax, Circle Ii, Nashik
High Court
01 Jul 2011 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
Cg Lucy Switchgear Limited v. Asstt. Commissioner Of Income-Tax, Circle Ii, Nashik
Date of order
01 Jul 2011
Assessment year(s)
—
Outcome
Allowed
The order — as passed by the High Court
Case summary
In Cg Lucy Switchgear Limited v. Asstt. Commissioner Of Income-Tax, Circle Ii, Nashik, the High Court (2011) allowed the appeal. The decision went in favour of the assessee.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1038 OF 2011
CG Lucy Switchgear Limited
..Appellant.
Versus
Asstt. Commissioner of Income-tax, Circle II, Nashik..Respondent.
Mr.Nishant Thakkar i/by Mulla & Mulla & CBC for the appellant.Mr.Vimal Gupta for the respondent.
CORAM : J.P. Devadhar & Smt.R.P. Sondurbaldota, JJ.
P.C. :
DATE : 1[st] July, 2011.
1.Heard. Admit on the following substantial question of law.
"Whether profits eligible for deduction under Section 80HHC of the Act can be reduced by the amount of deduction allowed under Section 80-IB of the Act ?
2.Counsel for the parties state that the aforesaid question is
answered in favour of the assessee and against the Revenue in the case of
Associated Capsules P Limited V/s. DCIT reported in (2011)332 ITRT 42
(Bom). Accordingly, the appeal is disposed off by answering the question in favour of the assessee and against the Revenue. No order as to costs.
(Smt.R.P. Sondurbaldota, J.)
(J.P. Devadhar, J.)
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