The Commissioner Of Income Tax – 4, Mumbai v. Jashan Textile Mills Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.671 OF 2009 The Commissioner of Income Tax – 4, Mumbai..Appellant. Versus Jashan Textile Mills Limited..Respondent. Mr.Vimal Gupta for the appellant.Mr.Atul K. Jasani for the respondent. CORAM : J.P. Devadhar & Mrs.Mridula Bhatkar, JJ. P.C. : DATE : 11[th] January, 2011. 1.This appeal was admitted on 16[th] June 2009 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 deduction allowed to the Assessee Company under Section 80IA should not be reduced from the deduction allowable to the Assessee Company under Section 80HHC of the Act even though the provisions of Section 80IA(9) of the Act specifically states that where deduction under Section 80IA has been claimed and allowed for any assessment year, deduction to the extent of such profits / gains shall not be allowed under Section 80HH to 80RRA of the Act ? 2.Learned counsel on both the sides state that the aforesaid question of law has already been answered by this Court in the case of Associated Capsules Private Limited V/s. Dy. Commissioner of Income Tax (Income Tax Appeal No.3036 of 2010) decided on 10th January 2011 in favour of the assessee and against the Revenue. 3.The Appeal is disposed off accordingly with a direction to the Tribunal to re-compute the deduction in the light of aforesaid decision of this Court. No order as to costs. (Mrs.Mridula Bhatkar, J.) (J.P. Devadhar, J.)