The Commissioner Of Income Tax v. V. S. Dempo And Company Pvt. Ltd

IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO. 42 OF 2008 THE COMMISSIONER OF INCOME TAX Versus V. S. DEMPO AND COMPANY PVT. LTD. ... Appellant... Respondent Ms. Asha Desai, Advocate for the Appellant. Mr. Mihir Naniwadekar, Advocate for the Respondent -Coram:F. M. REIS &M. S. SANKLECHA, JJ.-Date:9th April, 2015 ORAL ORDER: The above appeal was admitted by this Court by order dated23/06/2008 on the following substantial question of law: (A) Whether on the facts and in the circumstances of the case, the ITAT was justified in directing the A.O to re-compute deductionunder Section 80HHC by treating income from interest as businessincome and in holding that the same can neither be considered asreceipt covered under Explanation to Section 80HHC nor it can betreated as income from other sources? 2. During the course of hearing Mr. M. Naniwadekar, learnedcounsel for the respondent pointed out that the above question hasbeen answered in favour of the respondent-assessee's own case by Judgment of the Division Bench of this Court dated 30/09/2014passed in Tax Appeal nos. 64, 66, 69 and 70 of 2006. The appellant does not dispute the above position. 3. In view of the above, for the reasons stated in the saidjudgment dated 30/9/2014, the substantial question of law isanswered in the affirmative in favour of the respondent-assessee andagainst the appellant-revenue. 4. The appeal stands accordingly dismissed. ap/- M. S. SANKLECHA, J. F. M. REIS, J.