Hertz Chemicals Ltd v. Income Tax Officer, Wd-8(2)(1
High Court
18 Jan 2010 In favour of: Revenue
Forum / Bench
High Court · newos
Parties
Hertz Chemicals Ltd v. Income Tax Officer, Wd-8(2)(1
Date of order
18 Jan 2010
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Hertz Chemicals Ltd v. Income Tax Officer, Wd-8(2)(1, the High Court (2010) dismissed the appeal. The decision went in favour of the Revenue.
Decision: In the circumstances, the question shall stand answered in terms of the law laid down by the Supreme Court in the aforesaid judgment and the appeal shall stand dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAYO. O. C. J.
INCOME TAX APPEAL NO.892 OF 2008
Hertz Chemicals Ltd.
Vs.
Income Tax Officer, Wd-8(2)(1).
...
Mr.Sameer G. Dalal for the Appellant.Mr.Suresh Kumar for the Respondent.
... Appellant.
...Respondent.
CORAM : DR. D.Y.CHANDRACHUD &J.P. DEVADHAR, JJ.
18[th] January, 2010.
P.C.:
The appeal was admitted on the following substantial
question of law :
“ Whether in the facts and the circumstances of the case, and in law, the Tribunal was right in holding that the income arising out of DEPB licence is not eligible for the benefit of deduction under Section 80IB of the Act?”
The question is covered against the assessee by the
judgment of the Supreme Court in Liberty India vs. CIT, (2009) 317 ITR 218 (SC). Both the Learned Counsel appearing on behalf of the Appellant and Counsel appearing on behalf of the Revenue accept this position. In the circumstances, the question shall stand
answered in terms of the law laid down by the Supreme Court in
the aforesaid judgment and the appeal shall stand dismissed. There shall be no order as to costs.
( Dr.D.Y.Chandrachud, J.)
( J.P.Devadhar, J.)
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