Cit v. Sangeeta Jain

PI,J ROI.ATOR lNN D]A [-TD. (2A\ WA L7V lzon"L COMMISSIOAIER OF INICOME TAX EAI.DEV RAJ JAGGI

(2L) ITA r.78l20Xr. trnruo. ITA I2l20I7 & ors.connected matters ...APPE'-'-ANT \lz' . . .RESPONIDENT " . APPEI-LANT . . R,ESPOIVDENT . . APPELLANT . . .RESPOIUDENT . . APPELLAI\NT . . .RESPORIDENT . . APPEI.LANNT . . "RESPOhIDENT' . . APPELLANT' . . .RESPOt{DENIT . . APPELI-A]\IT , . ,RESPONDEIUT COMMISSIONER, OF INNCOME TAX I[\!DU G[..!PTA (221. lrA-L81,12OJ,7 COMMISS[O[{ER OF INICOME TAX SANTGEETA JAIhI

(23) rrA x82l20Xn . COMMISSIOIUER OF INCOME TAX '-l c!_c coRPoRATlor{ C

(24) ITA XE4/20L1 COMMISSIOhNER OF IIUCOME T'AX CLC CORPORATIOhI

(2s) ITA I_E5/20L1 COMMISSIORNER OF INCOME TAX I VIK^AS KALRA '@ COMM[ssIONXER OF TNJCOME TAX . . AN[.oj GOEL (271 t'TA 72312009 COMMISSIONER OF IIUCOME TAX ffA No. ITA l2l20II & ors.connected matters I luosmAn DecisiQn ln- . . APPEI.[-A[\IT t Reserved on: 10.02.2OII Delivered On: 18 .02.2OII . . .RESPONIDENIT . , APPE[.[.A[VT . . .R,ESPOhIDEI\IT . . APPELLAIVT . . .RESPONIDENT . . APPEI.LANT . . .RESPOIUDEIUT . . APPEI.LANT " . .R.EsPONDEIUT . , APPFLI-,qNT' . "RESPONDENIT' . , APPELI-AT{T \l ilt PRIYANNKA OVER.SEAS P. I-T'D. COUNSEL FOR THE REVENUE: Mr. Kamal S Ms. Suruchi Standing C Advocate. COUNSEL FOR THE ASSESSEES: Mr. Ajay V Mr. Somna Mr, Manish Dayal, Mr. P Nair and Mr Gupta, Ad Poonam Ahu CORAM :- HONI',BLE MR. .lusT'lCE A.K. S[ HOnX',BLE MR,. .!u5'{'[CE M"[-. ME

¶1Whether Reporters of Local ne to see the Judgment? To be referred to the Reporter Whether the Judgment should A.K. 5[KRI, l. 1, All these appeals involved commo of convenience, we can reproduce the q these appeals:- "(a) Whether on a correc relevant statutory provisions law in directing the As deduction under section 80H of "profit" on sale of DEPB?

(b)Whether on the facts of was .justified in law in im assessee would be entitled first proviso below sub-Secti respect of DEPB Credit util

2.

¶3'tl .'

¶2The orders passed by the Tribun because of the reason that the Tribuna was supposed to) the decision of the ITA case of Topman Expart Vs. ,TO flTA N dated L1'n August, 2009.1, By that judg lrANo. ITA 12|2OLL & ors.connected matters t\ . . .RESPOhIDENT whney, Mr. Abhishel< Maratha, Tripath i,Sr. Srivastava, garwal, Mr. Anupam unsel with Mr. Amit a, Advocate with Mr, l(avita Jha, Shukla, Mr. Prakash Kumar and Kumar, Mr. O.P. Sapra, ,Mr. Amit kaj Jain, Mr. D.K. Goyal, Mr. VijaY Manish Chaudhary, Dr. Rakesh ate with Mr. Rl(. Aggarwal, Ms. , Advocates. pers may be allowed not? reported in the Digest? question of law. For the sake law framed in one of tions of interpretation of the Tribunal was justified n ing Officer to allow C of the Act in respect present case, Tribunal iedly holding that the deduction as per the 3 of Section 80HHC in by the assessee?" all these cases are brief has simply followed (which it Special Bench, Mumbai in the 57 69llv1um./2006 decided on nt, the Special Bench of the

¶3Tribunal has held that the face value of D

(iiib) at the time of accrual of income, th DEPB is filed with the competent auth profit in sale of DEPB representing the e over its face value is liable to be conside sale. I. ' t' Thb Revenue had filed the apPeal i Bombay against the aforesaid decision of The Bombay High Courtl;has reversed th the judgment of the Bombay High Court af trncome Tax Vs. Katrpataru Colours

¶4Since the Tribunal had simply follo Topman Exports (supra) which stands order passed by the Tribunal in all these to the Tribunal to decide these appeal account factual position in all these cases

¶5These appeals stand disposed of on FEBRI,.]ARY L8, zoLL, skb I ffA No. ITA l2l2OII & ors.connected matters \t PB is chargeable to tax u/s 2B is, when the application for rity pursuant to exPorts and ess of sale proceeds of DEPB u/s 28(iiid) at the time of its the High Court Adjudicate at he Special Bench of the ITAT. decision of the Tribunal and s reported as Com rnissioner Chernicatrs, 328 ITR 457. ed Special Bench decision in over ruled, we set aside the ses and remit the cases back on merits after tal<ing into bove terms. JUDGE (M.L.MEr-rTA) JUDGE

>-\\ *INTHEH|GHcoURToFDEI.H|ATIUEWDE[-I-!| + Judgment Reserved on: 10'02 '20L1 DeCision Delivered On: 18'02 '2OlL (1) tTA.4A4|2OLO COMMISSIONER OF INCOME TAX . . . APPELLANT ARJAN|MPEXPVT.I.TD....RESPoNDENT (2) lrA 7o8l2O1O COMMISSIONER OF INCOME TAX . . . APPEI.LAT{T . . SPENTEX IIIDUSTRIES LTD. . . .RESPOIVDEnilT j - (3 ) tTA 7g3l2OLO t ' coMMlssloNER oF lNcoME TAX ' ' ' APPELLANT PHII.CO EXPOR,TS. . ' .RESPONDENT i (4) ITA^ 927I2OLO COMMISSIONER OF INCOME TAX . . APPEI.LANT ) P!-ltLco EXPORTS . .RESPONDENT (5) lrA 1o8o/2or.o COMMISSTONER OF IIVCOME TAX . APPELLANT SPENTEX INDUSTRIES I.TD. . .RESPONDEI\IT (6) rTA L886/2010 COMM]SSIONER. OF INCOME TAX . APPELI.ANT NITIN KUMAR SADH . .R'ESPOTVDENT rrA No. ITA 404120L0 & ors'.connected matters Certify that the digital file and physical file have been compared and the digital data is as per the physical file and no page is missing. / .la . (7) lrA L887I2OLO COMMISSIONER, OF INCOME TAX . . APPELI-AI{T KAPOOR INDUSTRIES. .R'ESPONIDENT (8) lrA L896/20L0 COMMISSIONER OF TNCOME TAX . . APPELLAhIT FULKANTJHA'.'RE5Po!\IDENT (9) lrA L899/20LO I, coMMlssloNER OF INCOME TAX . . . APPELLAT{T PAL ENTERPRISES . .RESPONDEI{T (r.o) lrA Lgs7lzOLO COMMISSIONER, OF INCOME TAX . . APPEI-LANT PRAVEEN INDUSTR.IES PVT. LTD. .RESPONDEIUT (11) ITA L958/2OI.O COMMISSIONER OF INCOME TAX . . . APPEI-LANT -l 'ERSUS ZENELIT{I LEATI{ER WEAR .R.E5PONDENT (L2) ITA L9s9/20LO COMMISSIONER OF INCOME TAX . . . APPEI.LANT RICHA APPAR,ELS . .RESPONDEI{T (13) L96O/2Ot O COMMISSIOT{ER OF INCOME TAX . . . APPELLANT KAPOORINDUSTRIES ,..R.ESPOIVDENT lrA No. ITA 4O4|2OIO & ors.connected matters (14) ITA 198O/2O1O COMMISSIONER OF INCOME TAX . . APPEI-LAI{T AI.IUJA RADlos . .RESPoI\DENT (1s) trA 2o7 4|2OLO COMMISSIONER, OF INCOME TAX . . APPELLANT SHOREWALA OVERSEAS " "RESPONDENT (16) lrA L4l20LL COMMISSIONER OF INCOME TAX . ' APPELLAIUT .J SAIUGEETA.IAINI ' "RESPONDEnIT (17) lrA Ls/20L1 COMMISSIONER OF INCOME TAX . . APPELLANIT THER TECI.I , .. .R'ESPOI{DENIT (L8l lrA 67l20L1 COMMISSIONER. OF INCOME TAX . APPELLAIVT ,, PUROLATOR. INDIA LTD. . . 'RESPONIDEI{T (LgI ITA L77I2OLL COMMISSIONER OF INCOME TAX ' . APPEL!-ANT BALDEV RAJ jAGGI . . .RESPOIVDENT rANo. ITA 404|2OIO & ors.connected matters a ? ,(x ,(W U COMMISSIONIER OF INCOME TAX . . APPELI-ANT INDUGUPTA '; 'RESPONDENIT (21) lrA L8t/201L COMMISSIONER OF INCOME TAX . . APPELLANIT SANGEETAJAIN ...RESPONIDENT Qzl ftA 1"82120LT COMMISSIONER, OF INCOME TAX . APPELLANT CLCCORPORATION ,..RESPONIDENT (231 trA LA4{20LL COMMISSIONER OF INCOME TAX . . APPELLANIT CLCCORPORATION ...REsPONDENT (24) ITA L85/20LL COMMISSIONER OF INCOME TAX , ' APPELLA!\T VIKASKAI-RA ...RESPONDENIT (251 trA- L87|20LL COMMISSIONER OF INCOME TAX . . APPELLANT ANI,.U GOEL .RESPONDENT Judgment Reserved on: 10.02 '20II Decision Delivered On: 18.02'20II (26r tr:p. 72312009 COMMISSIONER, OF INCOME TAX ' . APPELLANT . frA trto. ITA 4O4|2OIO & ors.connected matters ) I 1J .VERSUS PRIYANIKA OVERSEAS P. I.TD' . . .RESPOI\IDEIUT couNSEL FoR rHE REVENU E' V; :T;Hriil?il"il'rlHi,l"5 t''T3[f,i!?: Standing Counsel with Mr' Amit Srivastava' Advocate couNSEL FORTHE ASSESSEES:Mr. Ajay vohra, Advocate with Mr' Kavita Jha, Mr. Somnath Shukla,' Mr. Prakash Kumar and Mr. Manish Kumar, Mr. O'P' Sapra, ,Mr' Amit Dayal, Mr' Pankaj Jain, Mr' D.K. Goyal, Mr' Vijay Nair and Mr. Manish Chaudhary, Dr' Rakesh . Gupta, Advocate with Mr. RK. Aggarwal, Ms' Poonam Ahuja, Advocates' CORAM :. FloN'Bl-E MR. JUSTICE A.K. SIKRI HON'BLE MR. JUSTICE M.L. MEHTA 1. Whether Reporters of Local newspapers may be allowed to see the Judgment? 2. To be referred to the Reporter or not? 3. Whether the Judgment should be reported in the Digest? A.K. SIKRI, I. 1. For orders, see ITA 12 of 2011. FEBR,UAdV TA, }OTL, skb J .K.5lKRl) JUDGE M.L,MEI{T'A) lrA No. ITA 4041201-0 & ors.connected matters ' * INI "d-l-tE l-l!Gg-l co[.0RT oF DE + (x) []fA x2l2011 COMMISSIONER, OF IhXCOME TAX PARAMOI,.IhXT IMPEX PVT. LTD. \ (21 rrA 4O4l2O1,9 COMMISSIONIER OF INICOME TAX