The Commissioner Of Income Taxmadurai v. M/S.fenner (India) Ltd.,3 Madurai Melakkal Road,Madurai - 625 016

In the High Court of Judicature at Madras Dated: 23.07.2014 Coram The Honourable Mr.JUSTICE R.SUDHAKARand The Honourable Mr.JUSTICE G.M.AKBAR ALI Tax Case (Appeal) No.653 of 2007 The Commissioner of Income TaxMadurai. .... Appellant Vs. M/s.Fenner (India) Ltd.,3 Madurai Melakkal Road,Madurai - 625 016. .... Respondent APPEAL under Section 260A of the Income Tax Act against the order dated 09.12.2005 in I.T.A.No.364/Mds/2001 on the file of the Income Tax Appellate Tribunal, Madras 'C' Bench. For Appellant : Mr.M.SwaminathanStanding Counsel for Income Tax For Respondent: Mr.J.Venkatanarayanan ---------- J U D G M E N T (Delivered by R.SUDHAKAR,J.) This Tax Case (Appeal) is filed at the instance of the Revenue as against the order of the Income Tax Appellate Tribunal raising the following substantial question of law: "Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in directing the assessing officer not to exclude the amount received on export turnover if no deduction has been claimed in the earlier year of such export turnover, even though the assessee would be eligible for deduction under Section 80HHC, only if the sale proceeds were received in convertible foreign exchange within the period of 6 months from the end of the previous years or within such period as the competent authority may allow in this behalf, the assessee would not be eligible for deduction under Section 80HHC as per Section 80HHC(2)(a) of the Income-tax Act?" 2. A perusal of the order of the Tribunal shows that the Tribunal remanded the case to the Assessing Officer to consider the issue whether the assessee would be entitled to the benefit of Section 80HHC of the Income Tax Act in respect of the belated receipt of sale proceeds. That order is under challenge in this Tax Case (Appeal). 3. It is stated by the learned counsel appearing for the respondent/assessee that pending this appeal, the Assessing Authority took up the matter for re-adjudication in terms of the order of the Income Tax Appellate Tribunal in I.T.A.No.364/Mds/2001 dated 09.12.2005 and held against the assessee. As against the said order, the assessee preferred an appeal before the Commissioner of Income-Tax (Appeals), who allowed the appeal filed by the assessee granting the benefit under Section 80HHC of the Income Tax Act. Aggrieved by the same, the Revenue went on appeal before the Income Tax Appellate Tribunal in I.T.A.No.1086/Mds/2008. The Tribunal, by order dated 26.2.2009, partly allowed the appeal filed by the Revenue. 4. Learned counsel appearing for the assessee also submits that the order of the Tribunal dated 26.2.2009 has been accepted by the assessee and no further appeal has been preferred as against the said order of the Tribunal. 5. Recording the above submission of the learned counsel appearing for the assessee, this Tax Case (Appeal) stands disposed of, as the assessee himself has accepted the order of the Tribunal dated 26.2.2009 holding that the benefit under Section 80HHC of the Income Tax Act will not accrue to the present transaction. No costs. Index :Yes/NoInternet:Yes/Nosl (R.S.,J)(G.M.A.,J)23.07.2014 R.SUDHAKAR,J. AND G.M.AKBAR ALI,J. sl To 1. The Income Tax Appellate Tribunal, Madras 'C' Bench. 2. The Commissioner of Income Tax (Appeals) XIII, Chennai. 3. The Joint Commissioner of Income Tax, Special Range -II, Madurai. T.C.(A) No.653 of 2007 23.07.2014