Commissioner Of Income Tax (Central), Ludhiana v. M/S Sheena Exports

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No. 674 of 2010Date of Decision: 10.12.2010 Commissioner of Income Tax (Central), Ludhiana Versus M/s Sheena Exports ....Appellant ...Respondent. CORAM:-HON'BLE MR. JUSTICE ADARSH KUMAR GOEL.HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. PRESENT: Mr. Rajesh Katoch, Advocate for the appellant. ADARSH KUMAR GOEL, J. 1.This appeal has been filed by the revenue under Section260A of the Income Tax Act, 1961 against order of the Income TaxAppellate Tribunal, Delhi Bench 'G', Delhi passed in ITA No.1659/Del/2008 dated 18.12.2009 for the assessment year 1999-2000,proposing to raise following substantial question of law:- “Whether on the facts and circumstances of the case,the ITAT was right in law in allowing deduction u/s80HHC on the face value of DEPB in the case whereturnover exceeds Rs.10 crores in view of second,third and fourth provisos to sub-section (3) of section80HHC inserted by the Taxation Laws (Amendment)Act, 2005 with retrospective effect from 01.04.1998?” 2.Learned counsel for the revenue points out that identicalappeal being ITA No. 299 of 2010 (Commissioner of Income-tax v.M/s F.C. Sondhi & Company (P) Ltd.) filed by the revenue wasallowed by this Court on 16.8.2010 and the matter remanded to theTribunal. 3.Accordingly, this appeal is disposed of in same terms. Thematter may be taken up before the Tribunal on December 20, 2010along with connected matters and the Tribunal may thereafter proceedin accordance with law after due notice to the assessee. (ADARSH KUMAR GOEL) JUDGE December 10, 2010gbs (AJAY KUMAR MITTAL)JUDGE