The Commissioner Of Income Tax-20 v. M/S.mysore Apparel Co
High Court
18 Jan 2010 In favour of: Revenue
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax-20 v. M/S.mysore Apparel Co
Date of order
18 Jan 2010
Assessment year(s)
—
Outcome
Allowed
The order — as passed by the High Court
Case summary
In The Commissioner Of Income Tax-20 v. M/S.mysore Apparel Co, the High Court (2010) allowed the appeal. The decision went in favour of the Revenue.
Decision: The appeal is accordingly allowed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYO. O. C. J.
INCOME TAX APPEAL NO.1970 OF 2009
The Commissioner of Income Tax-20. Vs.
...Appellant.
M/s.Mysore Apparel Co.
...Respondent.
....
Mr.Suresh Kumar for the Appellant.Mr. S.J. Mehta for the Respondent.
.....
CORAM : DR.D.Y.CHANDRACHUD AND J.P.DEVADHAR, JJ.
January 18, 2010.
P.C. :
The appeal was admitted on the following substantial question of law:
“ Whether, on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the duty draw back is profit or gain derived from an industrial undertaking and, therefore, eligible deduction under Section 80-IB?”
The question, which is formulated, is covered against the
assessee and in favour of the Revenue by the judgment in Liberty
India vs. CIT, (2009) 317 ITR 218 (SC). The question shall
accordingly stand answered in favour of the Revenue, in terms of
the aforesaid judgment of the Supreme Court. The appeal is
accordingly allowed. There shall be no order as to costs.
( Dr.D.Y.Chandrachud, J.)
( J.P.Devadhar, J.)
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