9911796707
TMI Blog2012 (2) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... orts(Tribunal Mumbai) and upheld order of CIT - Held That:- Judgement of CIT vs Kalpataru Colours and Chemicals (2010 - TMI - 76895 - BOMBAY HIGH COURT) reversed and M/s Topman Exports (2009 - TMI - 208946 - ITAT MUMBAI) and Ram Honda Power Equip (2007 - TMI - 2891 - HIGH COURT, DELHI was upheld. - CIVIL APPEAL No. 1915 & 1916 OF 2012 - - - Dated:- 8-2-2012 - S. H. Kapadia, A. K. Patnaik, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or short DEPB ) represents profit on transfer of DEPB under Section 28(iiid) of the Act and did not allow the amount of deduction claimed by the appellant under Section 80HHC. The appellant filed appeals before the Commissioner of Income Tax (Appeals) but the Commissioner of Income Tax (Appeals) sustained the orders of the Assessing Officer. The appellant filed appeals before the Income Tax Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cision of the Special Bench of the Tribunal at Mumbai in M/s Topman Exports and the decision of the Special Bench in M/s Topman Exports has been reversed by the Bombay High Court in Commissioner of the Income Tax v. Kalpataru Colours and Chemicals (ITA(L) 2887 of 2009). The High Court accordingly set aside the orders of the Tribunal and remitted the case to the Tribunal to decide the appeals of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed a separate judgment in Civil Appeal arising out of S.L.P. (C) No.32450 of 2010 (M/s ACG Associated Capsules Private Limited v. Commissioner of Income Tax, Central-IV, Mumbai) and other connected appeal affirming the judgment of the Delhi High Court in Commissioner of Income Tax v. Shri Ram Honda Power Equip (supra). These two appeals are disposed of in terms of our aforesaid two judgments. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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