M/S Teeknits v. Commissioner Of Income Tax

IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. I.T.A. No.283 of 2004 Date of decision: 13.10.2010 M/s Teeknits. Vs. Commissioner of Income Tax. -----Appellant. -----Respondent CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOELHON'BLE MR. JUSTICE AJAY KUMAR MITTAL Present:-Mr. Pankaj Jain, Advocatefor the appellant. for the appellant. Mr. Rajesh Katoch, Standing Counselfor the respondent. --- ADARSH KUMAR GOEL, J. This appeal has been preferred by the assesseeunder Section 260-A of the Income Tax Act, 1961 (for short, “theAct”) against the order dated 27.10.2004 of the Income TaxAppellate Tribunal, Chandigarh in I.T.A. No.37/CHANDI/2001 forthe assessment year 2000-01 proposing to raise followingsubstantial questions of law:- “iThat whether under the facts and circumstancesof the case, the Tribunal has committed an errorby disposing off the appeal in a summarymanner by mentioning that both the parties haveadmitted applicability of the decision of IPCAof the case, the Tribunal has committed an errorby disposing off the appeal in a summarymanner by mentioning that both the parties haveadmitted applicability of the decision of IPCA LABORATORY LTD. VS DCIT, 266 ITR 521(SC) to the facts of this case. iiThat whether under the facts and circumstancesof the case, the Tribunal has mis-read and mis-interpreted the provision of law vis-à-vis withoutgoing into the details bringing out the facts ofthis case and that of 266 ITR 521 (SC). iiiiThat whether the Tribunal is justified in law inholding that the net loss u/s 80 HHC(3) a, b & cis to be adjusted against the export incentiveread with the proviso to the said sub-section forthe purpose of deduction u/s 80HHC(1).” Learned counsel for the appellant fairly states thatidentical appeal being I.T.A. Nos.284 and 285 of 2004 M/sTeeknitsv. CIThas been dismissed by this Court on 7.10.2010. Accordingly, this appeal is dismissed. (ADARSH KUMAR GOEL) JUDGE October 13, 2010ashwani ( AJAY KUMAR MITTAL ) JUDGE