Itxa/1798/2010 Of The Commissioner Of Income-Tax,Mum,City-Xvi v. Exports

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1798 OF 2010 The Commissioner of Income Tax-, Mumbai City XVI ..Appellant. V/s. M/s. K.V. Exports ..Respondent. Mr. Suresh Kumar for the appellant. None for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ.DATED : 9TH OCTOBER, 2012 P.C. :- 1.The question of law raised by the revenue in this appeal reads thus :- “ The Tribunal has erred in law and on the facts in directing the assessing officer to include foreign exchange difference gain of Rs.28,19,126/- (wrongly typed as Rs.66,04,380/-) pertaining to the export of earlier years in the total export turnover of the assessee for the purpose of deciding the allowable deduction under Section 80 HHC of the Income Tax Act, 1961 without appreciating the facts that the said amount did not form part of export turnover for the assessment year under question as defined in clause (b) of explanation below sub-section 4C of Section 80 HHC of the Income Tax Act, 1961 ? “ 2.The dispute in the present case is, whether the ITAT is justified in upholding the decision of CIT(A) to restore the issue to the file of the Assessing Officer (AO) for fresh decision on merits. Since this is a case of remand, we see no reason to entertain the appeal. However, the A.O. while passing fresh order shall take into consideration the decision of this Court in the case of CIT V/s. Gem Plus Jewellery India Limited reported in (2011) 330 ITR 175 (Bom). The appeal is dismissed accordingly with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)