The Commissioner Of Income Tax v. M/S.okasa Pharma Pvt. Ltd

(-1-) MGN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LODG.)NO.2530 OF 2006 The Commissioner of Income Tax.....Appellant Vs. M/s.Okasa Pharma Pvt. Ltd...........Respondent Mr.Suresh Kumar with Mr. B.M. Chatterji and Mr. P.S. Sahadevan, for the Appellant Mr. P.J. Pardiwala, Senior Counsel with Mr. Sanjay Udeshi i/b. Sanjay Udeshi & Co., for the Respondent CORAM: F.I. CORAM: F.I.REBELLO&R.S.MOHITE, JJ.DATED: 29th January, 2009 R.S.MOHITE, JJ. DATED: 29th January, 2009 P.C.: P.C.: . Admit on the following questions:- "(a) Whether on the facts and in the circumstances of the case and in law, the assessee company is entitled to deduction under Section 80IA of the Act in respect of the profits arising on the manufacturer got done through the Loan Licensee manufacturers who were not eligible for deduction under Section 80IA in their own stead." (b) Whether on the facts and in the circumstances of the case and in law, the assessee company is liable to be assessed under the provisions of Section 158B(B) of (-2-) the Act on the undisclosed income on account of admission made by the Director of the company under Section 132(4) of the Act in respect of deduction under section 80IA of the Act claimed for ineligible LLMs." 2. In so far as Question (b) is concerned, in our opinion, considering the finding recorded by the Tribunal in para.32 of its order we concur with the said finding and we find that the question of law consequently would not arise. 3. In so far as Question (a) is concerned considering that the assessment is for the block period and as an Appeal is already admitted for the regular assessment the present question would not survive and can be answered in the regular appeal which is admitted. . Appeal accordingly disposed of. (R.S.MOHITE, J.) (F.I.REBELLO,J.)