Itta/502/2014 Of The Commissioner Of Income Tax (Central) v. M/S. Aurobindo Pharma Ltd

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO I.T.T.A. No. 502 of 2014 DATED:31.07.2014 Between:The Commissioner of Income Tax (Central),Hyderabad. … Appellant And M/s. Aurobindo Pharma Ltd.,Hyderabad. ….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA ANDTHE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO I.T.T.A. No. 502 of 2014 Judgment:(per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) We have heard Mr. J.V. Prasad, learned counsel for the appellantand have gone through the impugned judgment and order of the learnedTribunal dated 29.11.2013 in relation to assessment year 2008-09, whichis sought to be appealed against on the following suggested question oflaw: Whether on the facts and in the circumstances of the caseand in law, the Hon’ble Tribunal is correct in directing the AO toexclude the freight charges both from Export turnover and TotalTurnover, though such an adjustment to the total turnover is notcontemplated in provisions laid down in Section 10B of the IncomeTax Act, 1961 ? It appears, the learned Tribunal has followed the decision of theSpecial Bench in the case of Saksoft Ltd., reported in 30 SOT 55,(Chennai), on identical issue and the issue was decided in favour of theassessee. It does not appear that the aforesaid decision of the learnedTribunal has been reversed or questioned before any forum. Hence, wethink that the learned Tribunal has correctly applied the law following therule of consistency. We, therefore, dismiss this appeal. _________________ K.J. SENGUPTA, CJ _______________________ M.S. RAMACHANDRA RAO,