The Commissioner of Income-tax, Bangalore / The Dy. Commissioner of Income-tax, Cirlce 11(4), Bangalore v. M/s. Himatsingka Seide Ltd
[Citation -2014-LL-1216-5]
Citation | 2014-LL-1216-5 |
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Appellant Name | The Commissioner of Income-tax, Bangalore / The Dy. Commissioner of Income-tax, Cirlce 11(4), Bangalore |
Respondent Name | M/s. Himatsingka Seide Ltd. |
Court | HIGH COURT OF KARNATAKA |
Relevant Act | Income-tax |
Date of Order | 16/12/2014 |
Judgment | View Judgment |
Keyword Tags | computing deduction • insurance expenses • total turnover |
Bot Summary: | Allow the appeal and set aside the order dated 21/09/2011 passed by the ITAT, Bangalore in 2 ITA No.69/Bang/2010 and confirm the order of the Appellate Commissioner confirming the order passed by the Deputy Commissioner of Income Tax, Circle- 11(4), Bangalore, in the interest of justice and equity. Whether the Tribunal was correct in holding that turnover of any Seide division is to be taken into account for computing deduction u/s.80HHC of the Act inspite of the provisions 3 of Section 80HHC(3) providing for the total turnover of the assessee 3. Whether the Tribunal was correct in holding that the assessee is entitled to claim deduction u/s.80HHC of the Act on a portion of the profit attributable to the Filati unit which is eligible for deduction u/s.10B of the Act 3. Vs. Tata Elxsi Ltd. Ors, reported in 65 DTR 206, where the said substantial question of law was answered in favour of the assessee. Following the said judgment in this case also, the first substantial question of law is answered in favour of the assessee. Insofar as substantial questions of law 2 and 3 are concerned, in the assessee s case itself for the earlier assessment years in ITA Nos.51/2009, 59/2009 and 60/2009 decided on 14.11.2014, this Court has answered the said substantial questions of law in favour of the assessee by a considered order. Following the said judgment in this case also, the aforesaid two questions of law are answered in favour of the assessee and against the Revenue. |