In Cipla Limited v. Dy. Commissioner Of Income-Tax & Others, 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.6901 OF 2010
Cipla Limited
..Appellant.
Versus
Dy. Commissioner of Income-tax & Others..Respondents.
Mr.Sanjay Udeshi for the appellant.Mr.Vimal Gupta i/by Ms.Padma Divakar 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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