The Director Of Income Tax(International Taxation v. M/S. Deutsche Bank Ag

ASN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.233 OF 2011 The Director of Income Tax(International Taxation). v. M/s. Deutsche Bank AG. ..Appellant. ..Respondent. Mr.Suresh Kumar for the Appellant.Mr. P.J.Pardiwala, Sr. Advocate with Mr. B. D.Damodar i/by Kanga & Co. for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 20[th] November, 2012 PC: The question of law raised by the revenue reads thus: Whether on the facts and circumstances of the case and in law, the ITAT is correct in directing the AO to allow the entire head office expenditure under section 37(1) of the Act, without appreciating the fact that the allowability of head office expenditure is governed by the provisions of section 44C of the said Act and accordingly the said head office expenditure is to be allowed to the assessee at 5% of the adjusted total income as per provisions of section 44C of the Act? 2)The Tribunal has allowed the claim of the assessee by following the decision of this Court in Assessee's own case reported in (2006) 284 ITR 463 (Bom.). Moreover, the SLP filed by the revenue against the aforesaid decision of this Court reported in (2006) 284 ITR 463 has been dismissed by the Apex Court on 26/8/2008. 3)In this view of the matter, we see no reason to entertain the appeal. The appeal is, accordingly, dismissed with no order as to costs. In this view of the matter, we see no reason to (M.S.SANKELCHA, J.) (J.P. DEVADHAR, J.)