Vks v. M/S Bdh Industries Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION -versus M/s BDH Industries Ltd. .. Respondent. Mr.Sureshkumar for the appellantMs Aasifa Khan for the respondent CORAM: F.I REBELLOW AND R.S.MOHITE JJ,DATED: 18[th] February,2009 P.C.1. Revenue is in appeal on the followingquestions of law: i)Whether on the facts and circumstances of thecase, the ITAT is right in law to dismiss theappeal of the revenue on the basis of the caseof CIT vs M/s Sudarshan Chemical IndustriesLtd (235 ITR 769) without considering the caseof Chowringhee Sales Bureau Pvt Ltd?case, the ITAT is right in law to dismiss theappeal of the revenue on the basis of the caseof CIT vs M/s Sudarshan Chemical IndustriesLtd (235 ITR 769) without considering the caseof Chowringhee Sales Bureau Pvt Ltd? ii)Whether the credit balance written off backwould constitute profits derived from theexports made during the year in terms ofSection 80HHC (II) as per the ratio of thedecision of the Hon'ble Apex Court in thematter CAMAY ELECTRICAL INDUSTRIAL CO.LTD vsCIT (113 ITR 84) SC?2. So far as question No.(i) is concerned, sameis answered in favour of the assessee and againstthe revenue by the Judgment of the Supreme Court,reported in 290 ITR 667 and 292 ITR 641. 3. So far as question No.2 is concerned, learned ITAT confirmed the order of CITA(A). The relevant portion reads as under: “The learned CIT (A), his earlier orderfor assessment year l998-99, held thatthe amounts written of had a direct nexuswith the export business and therefore,formed part of business profits. To thatextent, we are in agreement with theorder of the learned CIT(A).” 4. This is a finding of fact. Learned Counsel for the asessee relied also to the judgment of the Madras High Court, in CIT vs Abdul Rahaman Industries (2007 (293) ITR 475). Considering twofindings recorded by CIT(A) and ITAT, there is noneed to consider the ratio of the judgment in AbdulRahaman Industries (supra). Appeal dismissed. (R.S.MOHITE, J)(F.I.REBELLO, J)