J.b. Chemicals And Pharmaceuticals Limited v. Additional Commissioner Of Income Tax & Another

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1147 OF 2008 ANDINCOME TAX APPEAL NO.1150 OF 2008 J.B. Chemicals and Pharmaceuticals Limited Versus Additional Commissioner of Income Tax & Another ..Appellant. ..Respondents. Mr.S.J. Mehta for the appellant.Mr.P.S. Sahadevan i/by Ms.Anamika Malhotra for the respondents. CORAM : J.P. Devadhar & Mrs.Mridula Bhatkar, JJ. P.C. : DATE : 11[th] January, 2011. 1.These appeal were admitted on 6[th] October 2008 on the following substantial question of law : a)Whether on the facts and in the circumstances of the case and in law the Tribunal was right in holding that the profits and gains on which deduction is allowed under Section 80IB, the whole of the income and turnover of the industrial undertaking the profits of which are eligible for deduction under Section 80IB, has to be excluded for computing profits and gains under Section 80HHC of the Act in view of Section 80IB (9) ? 2.Learned counsel on both the sides state that the aforesaid question of law have already been answered by this Court in the case of Associated Capsules Private Limited V/s. Dy. Commissioner of Income Tax (Income Tax Appeal No.3036 of 2010) decided on 10th January 2011 in favour of the assessee and against the Revenue. 3.The Appeals are disposed off accordingly with a direction to the Tribunal to re-compute the deduction in the light of aforesaid decision of this Court. No order as to costs. (Mrs.Mridula Bhatkar, J.) (J.P. Devadhar, J.)