India Ltd v. Addl. Commissioner Of Income Tax, 398 Itr 568

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 586 OF 2007 Blue Cross Laboratories Ltd. .. Appellant v/s. Dy. Commissioner of Income Tax, Range -3(1), Mumbai ..Respondent Mr. Atul Jasani for the appellantMr. Sham Walve for the respondent CORAM : M.S. SANKLECHA & SANDEEP K. SHINDE, J.J. P.C. DATED : 11[th] JULY, 2018. 1.This appeal under Section 260A of the Income Tax Act, 1961 (theAct) was admitted on 22nd September, 2008 on the followingsubstantial questions of law :- (a) Whether the Tribunal erred in upholding the allowance ofdepreciation of Rs.3,18,37,902 as a mandatory deduction whilecomputing the income under the head profits and gains of business orprofession and in computing the profits eligible for deduction underSection 80-IA of the Act? (b)Whether the Tribunal ought to have held that the appeal filedby the respondent no.1 was not maintainable in view of Circular F Digitally signedUdayby Uday ShivajiJagtapShivajiDate:2018.07.1317:47:29 +0530Jagtap 1 of 2 No. 279/126/98-IT dated March 27, 2000 issued by the CBDT whichwas binding on him? 2.It is an agreed position between the parties that question no.(a) stands concluded against the appellant assessee and in favour of therespondent Revenue by the decision of the Apex Court in Plastiblend India Ltd. Vs. Addl. Commissioner of Income Tax, 398 ITR 568. 3.Mr. Jasani, learned Counsel appearing for the appellant veryfairly states that in view of the answer to question no.(a) by thedecision of the Apex Court in Plastiblend India Ltd. (supra), thesubstantial question of law at question no.(b) would not survive.Thus, not pressed. 4.In view of the above, appeal is dismissed. No order as to costs. (SANDEEP K. SHINDE J.) (M.S. SANKLECHA, J.)