Commissioner Of Income Tax - 12, Mumbai v. Al-Kabeer Exportes Limited
High Court
22 Mar 2011 In favour of: Unclear
Forum / Bench
High Court · newos
Parties
Commissioner Of Income Tax - 12, Mumbai v. Al-Kabeer Exportes Limited
Date of order
22 Mar 2011
Assessment year(s)
—
Outcome
Other
The order — as passed by the High Court
Case summary
In Commissioner Of Income Tax - 12, Mumbai v. Al-Kabeer Exportes Limited, the High Court (2011) decided the matter.
Issue: Whether on the facts and in the circumstances of the case and in law the Tribunal was justified in allowing deduction u/s 80HHC of the Income TAx Act on DEPB license proceeds amounting to Rs.2,45,90,199/- ?
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.5770 OF 2010
Commissioner of Income Tax - 12, Mumbai..Appellant.
Versus
Al-Kabeer Exportes Limited..Respondent.
Mr.Vimal Gupta for the appellant.Mr.Murlidharan with Mr.B.G. Yewale i/by Rajesh Shah & Co. for the respondent.
CORAM : J.P. Devadhar & Smt.R.S. Dalvi, JJ.
P.C. :
DATE : 22[nd] March, 2011.
1.Heard. Admit on the following substantial question of law.
Whether on the facts and in the circumstances of the case and in law the Tribunal was justified in allowing deduction u/s 80HHC of the Income TAx Act on DEPB license proceeds amounting to Rs.2,45,90,199/- ?
2.Counsel for the parties state that the question of law is answered
in favour of the Revenue and against the assessee by the decision of this Court inthe case of Commissioner of Income Tax V/s. Kalpataru Colors & Chemicals reported in (2010) 328 ITR 451 (Bom.).
3.Accordingly, the aforesaid question is answered in the negative
i.e. in favour of the Revenue and against the assessee. The appeal is accordingly disposed off with no order as to costs.
(Smt.R.S. Dalvi, J.)
(J.P. Devadhar, J.)
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