The Commissioner Of Income Tax-18 v. Opera Clothing

IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. INCOME TAX APPEAL (LODG.) NO.2860 OF 2009 The Commissioner of Income Tax-18 Vs. Opera Clothing Mr. D.K. Kamwal for the Appellant.Mr. V.S. Hadade for the Respondent. .... ..... ..Appellant. ..Respondent. CORAM : DR.D.Y.CHANDRACHUD & J.P.DEVADHAR, JJ. P.C. : 5[th] February, 2010. The office objections are waived. The registry is directed to number the Appeal. Admit. The following substantial question of law is raised in the Appeal by the revenue : “Whether on the facts and in the circumstances of the case and inlaw Hon ble Tribunal erred is legally right in upholding the order’of the CIT(A) directing the Assessing Officer to allow deduction u/s. 80-IB of the Income Tax Act, 1961, in respect of Income from Duty Draw Back of Rs.89,30,418/- and DEPB of Rs.71,48,930/- earned the Respondent -assessee?” Counsel appearing on behalf of the revenue and counsel appearing on behalf of the assessee are agreed in stating before the Court that the issue which arises in the Appeal is covered against the assessee by the judgment of –the Supreme Court in Liberty India v. CIT (2009) 317 ITR 218(SC). In thecircumstances, the Appeal is allowed and the question of law is answered in terms of the judgment of the Supreme Court in Liberty India. (Dr. D.Y.Chandrachud, J.) (J.P. Devadhar, J.)