Itxa/2/2009 Of The Commissioner Of Income Tax-City 10 , Mumbai v. Micro Associates Consultancy I Pvt. Ltd. Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 2 OF 2009 The Commissioner of Income-tax-10,Mumbai. V/s. Micro Associates Consultancy(I) Pvt.Ltd. ... Appellant. ... Respondent. J.S.Saluja for the appellant. None for the respondent. P.C. :---- . CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 16th April 2009. Heard learned counsel for the appellant. 2. By this appeal, the following questions are sought to be raised by the appellant- Revenue. "(a)circumstances of the case and in law, theITAT was justified in allowing thededuction under section 10A even thoughthe assessee had neither brought anyforeign exchange to India nor kept themoney in designated account as per section10A(2), on the basis of decision in thecase of M/s.J.B.Boda and Co. (223 ITR271) which was pertaining to deductionunder section 80-O? Whether onthe (b)circumstances of the case and in law, theITAT is justified in deleting the additionunder section 68 of the Income Tax Act,1961 amounting to Rs.2,61,591/- due to thecash deposit made by the assessee in bank Whether on the facts and in the (J.P.DEVADHAR, J.)(V.C.DAGA J.)