The Commissioner Of Income Tax-8 v. M/S.sun Jewels India Pvt. Ltd
High Court
09 Apr 2010 In favour of: Revenue
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax-8 v. M/S.sun Jewels India Pvt. Ltd
Date of order
09 Apr 2010
Assessment year(s)
—
Outcome
Allowed
Case summary
In The Commissioner Of Income Tax-8 v. M/S.sun Jewels India Pvt. Ltd, the High Court (2010) allowed the appeal. The decision went in favour of the Revenue.
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
IN THE HIGH COURT OF JUDICATURE AT BOMBAYO. O. C. J.
INCOME TAX APPEAL NO.2035 OF 2009
The Commissioner of Income Tax-8. Vs.
...Appellant.
M/s.Sun Jewels India Pvt. Ltd.
...Respondent.
....
Mr.Suresh Kumar for the Appellant.Mr. Anil C. Mishra i/b. PKD Legal Solutions for the Respondent.
..... J.P.DEVADHAR, JJ.
CORAM : DR.D.Y.CHANDRACHUD AND
April 9, 2010.
P.C. :
The appeal by the Revenue under Section 260A of the
Income Tax Act, 1961, was admitted on the following substantial question of law :
“ Whether, on the facts and in the circumstances of the case and in law, the ITAT was correct in directing the AO to adopt the figure of net interest for the purpose of computation of deduction u/s.80HHC of the Act.”
The question is not res integra and is covered in favour of
the Revenue by the judgment of this Court dated 18th/19[th] March
2010 in CIT vs. Asian Star Co.Ltd. (Income Tax Appeal 200 of 2009). The question is accordingly answered in favour of the
Revenue and against the Assessee. The appeal is allowed. There shall be no order as to costs.
( Dr.D.Y.Chandrachud, J.)
( J.P.Devadhar, J.)
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