The Commissioner Of Income Tax-18 v. N.m. Fashions
High Court
15 Jan 2013 In favour of: Unclear
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax-18 v. N.m. Fashions
Date of order
15 Jan 2013
Assessment year(s)
—
Outcome
Other
Case summary
In The Commissioner Of Income Tax-18 v. N.m. Fashions, the High Court (2013) decided the matter.
Issue: Whether on the facts and circumstances of the case and in law the Tribunal was justified in holding that the assessee had correctly reduced the processing charges by the alleged Excise duty refund of Rs./62,19,262/- and the purchase cost by an amount of Rs.8,50,651/- without examining the relevantpr...
Decision: By consent of both the Advocates the impugned order of the Tribunal dated 5/5/2006 is set aside and the matter is restored to the file of the Assessing officer for de-novo disposal .
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
ASN
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO. 652 OF 2010
The Commissioner of Income Tax-18.
v.
N.M. Fashions.
...Appellant.
...Respondent.
Mr. Vimal Gupta, Sr. Advocate with Padma Divakar for the Appellant.Mr. Jitendra Jain with Jas Sanghavi i/by PDS Legal for the Respondent.
CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ.
DATE : 15TH JANUARY, 2013
PC:
In this appeal by the revenue under Section 260A of the Income Tax Act, 1961 following question of law has been raised for determination by this Court.
Whether on the facts and circumstances of the case and in law the Tribunal was justified in holding that the assessee had correctly reduced the processing charges by the alleged Excise duty refund of Rs./62,19,262/- and the purchase cost by an amount of Rs.8,50,651/- without examining the relevantprovisionsoftheNotification No.7/2001/CENT EX(MT) dated 1[st] march 2001 issued under the Central Excise Rules, 1944 for the purpose of computing the profit derived from the export under Section 80 HHC (3b) of the Income Tax Act, 1961?
By consent of both the Advocates the impugned order of
the Tribunal dated 5/5/2006 is set aside and the matter is restored to the file of the Assessing officer for de-novo disposal .
3)All the contentions of the parties in respect of the question framed are kept open.
(M.S.SANKELCHA, J.)
(J.P. DEVADHAR, J.)
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