Itxa/1393/2011 Of Surendra Engineering Corporation Ltd v. Assistant Commissioner Of Income Tax 13 (1)
High Court
11 Jan 2013 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
Itxa/1393/2011 Of Surendra Engineering Corporation Ltd v. Assistant Commissioner Of Income Tax 13 (1)
Date of order
11 Jan 2013
Assessment year(s)
—
Outcome
Allowed
The order — as passed by the High Court
Case summary
In Itxa/1393/2011 Of Surendra Engineering Corporation Ltd v. Assistant Commissioner Of Income Tax 13 (1), the High Court (2013) allowed the appeal. The decision went in favour of the assessee.
Decision: 3In view of the above, Appeal is allowed by answering the question in favour of the Assessee and against the Respondent/Revenue.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO. 1393 OF 2011
Surendra Engineering Corporation Ltd...Appellant.V/s.Assistant Commissioner of Income-Tax-13(1),Mumbai..Respondent.
Mr. A. K. Jasani, for the Appellant.Mr. D. K. Kamwal, for the Respondent.
P.C:-
CORAM: J.P.DEVADHAR & M.S.SANKLECHA,JJ.DATE : 11[th] JANUARY, 2013.
Heard. Admit on the following substantial question of law:-
“Whether the quantum of duty credit granted (the face value of the DEPB Licence) by the government ought to be taxed under section 28(iiib)?”.
2Counsel for the parties states that the aforesaid question stands covered in favour of the Assessee and against the Revenue by the decision of the Apex Court in the matter of M/s. Topman Exports v/s. Commissioner of Income-Tax, Mumbai reported in 342 ITR page 49.
3In view of the above, Appeal is allowed by answering the question in favour of the Assessee and against the Respondent/Revenue.
(M.S.SANKLECHA,J.)
(J.P.DEVADHAR,J.)
This page reproduces a public-domain court order (Section 52(1)(q)(iv), Copyright Act 1957). Explanations are EaseValue's original analysis. Always read the original order.
Disclaimer: General information only — not legal, tax or professional advice, and no advocate/CA–client relationship is created. AI-generated summaries may contain errors and must be verified against the original court order. EaseValue accepts no liability for reliance on this content. Not a solicitation.
Full disclaimer & Terms.
EaseValue