Paliwal Home Furnishings, Gohana Road, Panipat v. Commissioner Of Income Tax, Karnal

Income Tax Appeal No.423 of 2009 1 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. Income Tax Appeal No.423 of 2009 Date of Decision:- 4.12.2009 Paliwal Home Furnishings, Gohana Road, Panipat ---Appellant Versus Commissioner of Income Tax, Karnal ---Respondent CORAM:- HON'BLE MR.JUSTICE SATISH KUMAR MITTAL HON'BLE MR.JUSTICE MEHINDER SINGH SULLAR Present:-Mr.Devinder Kumar, Advocate for the appellant.SATISH KUMAR MITTAL, J.(ORAL) The assessee has filed the instant appeal under section 260-Aof the Income Tax Act, 1961 against the order dated 24.10.2008 passed bythe Income Tax Appellate Tribunal, Delhi Bench (hereinafter referred to as“the ITAT”) in ITA No.2265/Del/2008, in the case of assessee for theAssessment Year 2002-2003, raising the following substantial questions oflaw:- I. Whether the Duty draw back received is an amountderived and eligible for claim u/s 80IB?derived and eligible for claim u/s 80IB? II. Whether the Duty Entitlement Pass Book Schemereceived is an amount derived and eligible for claim u/s80IB?received is an amount derived and eligible for claim u/s80IB? III.Whether on the true and correct interpretation of theprovisions of sec.80HHC r.w. section 80IA(9) r.w.Section 80IB(13) the Tribunal has erred in restricting theclaim of deductions under the Act?provisions of sec.80HHC r.w. section 80IA(9) r.w.Section 80IB(13) the Tribunal has erred in restricting theclaim of deductions under the Act? IV.Whether on the true and correct interpretation of theprovisions of section 147 of the Income Tax Act, 1961,provisions of section 147 of the Income Tax Act, 1961, Income Tax Appeal No.423 of 2009 2 the initiation of the proceedings in pursuance to thejudgment of CIT Vs. Sterling Foods (1999) 237 ITR 579(SC) is covered within the words “reasons to believe”? Learned counsel for the assessee very fairly concedes that allthe aforesaid substantial questions have already been decided against the assessee by this Court in Liberty Indiav.Commissioner of Income Tax(2007) 293 ITR 520, which has been affirmed by the Hon'ble SupremeCourt of India in Liberty Indiav.Commissioner of Income Tax(2009)317 Income Tax Reports 218 (SC). In view of above, this appeal is dismissed, as no substantialquestion of law is arising from the impugned order. (Satish Kumar Mittal) Judge 4.12.2009AS (Mehinder Singh Sullar) Judge