Cipla Limited v. Dy. Commissioner Of Income-Tax & Another

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1764 OF 2009 Cipla Limited..Appellant. Versus Dy. Commissioner of Income-tax & Another..Respondents. Mr.J.D. Mistry, Senior Counsel i/by Mr.Sanjay Udeshi for the appellant.Mr.Suresh Kumar for the respondents. P.C. : CORAM : J.P. Devadhar & Mrs.Mridula Bhatkar, JJ. DATE : 11[th] January, 2011. 1.This appeal was admitted on 15[th] September 2009 on the following substantial questions of law : a)Whether on the facts and in the circumstances of the case and in law, the profits eligible for deduction under Section 80HHC of the Act can be reduced by the amount of deduction allowed under Section 8oIB of the Act ? b)Assuming without admitting that such reduction is to be carried out, whether the Tribunal ought to have held that such reduction should be restricted to the amount of export profits comprised in the income eligible for deduction under Section 80IB of the Act ? 2.In so far as first question is concerned, learned counsel on both the sides state that the aforesaid question of law has already been answered by this Court in the case of Associated Capsules Private Limited V/s. Dy. Commissioner of Income Tax (Income Tax Appeal No.3036 of 2010) decided on 10th January 2011 in favour of the assessee and against the Revenue. 3.The learned Counsel for the Appellant states that in view of answer to the first question, second question need not be answered. 4.The Appeal is disposed off accordingly with a direction to the Tribunal to re-compute the deduction in the light of aforesaid decision of this Court. No order as to costs. (Mrs.Mridula Bhatkar, J.) (J.P. Devadhar, J.)