Itxa/5700/2010 Of The Commissioner Of Income Tax-10,Mumbai v. M/S. Aarti Industries Ltd.,Mumbai

itxa5700-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.5700 OF 2010 The Commissioner of Income Tax-10, Mumbai ..Appellant. V/s. M/s. Aarti Industries Ltd. ..Respondent. Mr. Arvind Pinto for the appellant. Dr. K. Shivram with Paras S. Savla for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ.DATED : 24TH SEPTEMBER, 2012 P.C. :- 1.The question of law raised in this appeal by the revenue reads thus :- “ Whether on the facts and circumstances of the case and in law, the ITAT was correct in holding that the re-opening u/s.147 was bad in law, since all materials relevant for assessment had been disclosed ignoring that the reopening was based on the amendment of Section 80HHC in relation to DEPB receipts by Taxation Laws (Amendment) Act, 2005 with retrospective effect ? ” 2.Counsel for the parties state that similar question raised by the revenue in the case of CIT V/s. M/s. K.Mohan & Co. (Exports) (Regd) [Income tax Appeal (L) No.2347 of 2010 and Income tax Appeal No.1263 of 2011] has been dismissed by this Court on 1[st] July, 2011. For the reasons stated therein, the present appeal is dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)