Itxa/294/2003 Of The Commissioner Of Income Tax-3,Mumbai v. M/S Sicom Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 294 OF 2003 The Commissioner of Income Tax-3, … Appellant V/s. M/s. SICOM Ltd. … Respondent ----- Mr. A. R. Malhotra for the Appellant.Mr. Rahul Dev i/b Prakash Panjabi & co. for the Respondent. CORAM : M.S. SANKLECHA & SANDEEP K. SHINDE, JJ.DATE : 05[th] JULY, 2018 P.C.: .This appeal under Section 260A of the Income Tax Act, 1961 from theorder dated 24.10.2002 of the Income Tax Appellate Tribunal was admitted on14.10.2004. This appeal was admitted on the following substantial question oflaw. “ Whether in the facts and circumstances of the case and in law, theTribunal erred in confirming the order of the said order of the CIT(A) whichdirecting the A.O. to allow the deduction under Section 80M of the Income-TaxAct on the gross dividend instead of net dividend?” 2It is an agreed position between the parties that the issue raised hereinstands concluded in favour of the Respondent Assessee by the decision of this Court in the matter of CIT V/s. Emrald Co. Ltd, 2005 SCC Online Bom 1676 andCIT V/s. SICOM Ltd, 2016 SCC Online Bom 9740. 3In the above view, the substantial question of law is answered in negative i.e. in favour of the Respondent Assessee and against the Appellant Revenue. 4Appeal is dismissed. (SANDEEP K. SHINDE, J.) (M.S. SANKLECHA, J.)