Ita/112/2002 Of The Commissioner Of Income Tax, Cochin v. M/S.baby Marine Products, Quilon

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR THURSDAY, THE 21ST FEBRUARY 2008 / 2ND PHALGUNA 1929 ITA.No. 112 of 2002() --------------------- ITA.264/COCH/1996 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT -------------------------- THE COMMISSIONER OF INCOME TAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENTS: RESPONDENT ----------------------- M/S.BABY MARINE PRODUCTS, QUILON. BY ADV. SRI.C.KOCHUNNY NAIR SRI.DALE P.KURIEN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 21/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR &T.R. RAMACHANDRAN NAIR, JJ. -------------------------------------------- I.T.A. No. 112 OF 2002 -------------------------------------------- Dated this the 21st day of February, 2008 JUDGMENT C.N. Ramachandran Nair,J. This is an appeal filed by the revenue against the order of theTribunal granting relief to the assessee under Section 80HHC of theIncome-tax Act. We find that subsequent to the decision of theTribunal, the order in appeal relied on by the Tribunal in A.M.MOOSA's case is reversed by this Court and in appeal the SupremeCourt confirmed the same vide decision in 294 I.T.R. 1. Similarly theeligibility for relief under Section 80HHC was considered based ontheir order in appeal in Janatha Cashew Exporting Company's case.Even though this decision was reversed by this Court, the SupremeCourt set aside the order of the Tribunal and remanded the matter backfor verifying whether disclaimer certificates are available to grant therelief to the assessee. In this case, the Tribunal has recorded thatassessee has produced disclaimer's certificates from the export house and if that be so, the assessee is entitled to relief. So far as assessee'sclaim that premium received from export houses constitute exportprofit is concerned, the issue is covered by the decision of the SupremeCourt in the assessee's own case in 290 I.T.R. 323. In view of thesubsequent judgments above referred, which are rendered after decisionof the Tribunal, we set aside the order of the Tribunal with direction tothe Tribunal to reconsider the matter in the light of the decisions of theSupreme Court above referred. Appeal is allowed as above. (C.N.RAMACHANDRAN NAIR)Judge. (T.R.RAMACHANDRAN NAIR) Judge. kk