The Commissioner Of Income Tax-8Mumbai v. M/S. Britacel Silicones Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LODG) NO.1101 OF 2008ININCOME TAX APPEAL NO. OF 20078 The Commissioner of Income tax-8Mumbai ... Appellant Vs M/s. Britacel Silicones Ltd... Respondent Mr. Suresh Kumar i/by Mr. P.S. Sahadevan for the appellant. Mr. Pramod Kumar Parida for the respondent. CORAM: SWATANTER KUMAR, C.J.,& A.P DESHPANDE , J. DATE : 30TH JULY, 2008 P.C.: We have heard the learned counsel appearing for the parties. The order of the Income Tax Appellate Tribunal dated 3[rd]May, 2007 is challenged in the present appeal. We see, there ishardly any question of law that would arise in the present case. TheTribunal had referred the matter to the Assessing Officer in regard torecomputing the deduction under section 80 HHC of the Act afterreducing the deduction under section 80IB from the total income in accordance with the judgments of the Special Bench passed in ITA963/Mad/2005 and ITA No.1518/Mad/2006 and with regard to thedifference on account of foreign exchange fluctuation as part ofturnover and directed to allow the deduction under section 80HHC asper the provisions of law. 2. We see no reason to interfere. Dismissed. However, we leave the question open to be considered by the appropriate authority. CHIEF JUSTICE A.P. DESHPANDE, J.