Cit v. Anuj Goel

Judgment Reserved on: 10.02.2011 Decision Delivered On: 18.02.2011

(26) BTA 723/2009 COBVIMBSSIONER OF BNCOMIE TAX ITANo. ITA 404/2010 S( ors.connected . APPELLANT PRBYANKA OVERSEAS P. LTD. . . .RESPONDENT COUNSEL FOR THE REVENUE: Mr. Kamal Sawhney, Mr. Abhishek Maratha, Ms. Suruchi Aggarwal, Mr. Anupam Tripathi,Sr. Standing Counsel with Mr. Amit Srivastava, Advocate. COUNSEL FOR THE ASSESSEES: Mr. Ajay Vohra, Advocate with Mr. Kavita Jha, Mr. Somnath Shukia, 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. I Poonam Ahuja, Advocates. CORAM HON'BLE MR. JUSTICE A.K. SBKRD HOM'BLE MR. JUSTICE M.L. MEHTA

¶1Whether Reporters, of Local newspapers may be allowed to see the Judgment? . 2. To be referred to the Reporter or not?

¶3Whether the Judgment should be reported in the Digest? SlKRl.

¶1For orders, see ITA 12 of 2011. .K.Sii™) JUDGE .JUDGE-FEBRUARY 18, 2011, skb fM.L.MEHTA) ^^ ITA No. ITA 404/2010 & ors.connected matters r THE HIGH COURT OF Judgm Decisi

(1) ITA 12/2011 COMMISSIONER OF llSSCOME TAX PARAMOUNT IMPEX PVT. LTD.,

(2) ITA 404/20io COMMISSIONER OF. INCOME TAX ARJAN IMPEX PVT. LTD.

(3) 708/2010 •COMMISSIONER SPENTEX INDUSTRIES LTD.

(4) ITA 793/2010 COMMISSIONER PHILCO EXPORTS.

(5) ITA 927/2010 CO,MMiSSIO.NER'.,OF INCOME.TAX PHILCO EXPORTS

(6) ITA 1080/2010 COMMISSIONER SPENTEX INDUSTRIES

(7) ITA 1886/2010 ' COMMISSIONER OF BNCOME TAX ITANo. ITA 12/2011 NEW DELHI 2nt Reserved on: 10.02.2,011 on Delivered On:

18.02.2011 , APPELLANT RESPONDENT . , . APPELLANT . .RESPONDENT . .RESPONDENT . . . APPELLANT . .RESPONDENT .RESPONDENT . , APPELLANT . .RESPONDENT ISliTiM KOMAR SAOH

(8) ITA 1887/2010 CONMSSSiONER iCAPOOR INDUSTRfES.

(9) ETA .1896/2010 COMMSSSIONER OF INCOME TAX ' ' ' FOiiCANTJHA •. go) ITA 1899/2010 COMMISSIONER ENTERPRISES' aD.ITA 1957/2010 COMMISSIONER PRAVEEN INDOSTRIES P¥T" LTD.

(12) ITA 1958/2010. • • COMMISSIONER OF INCOME-TAX ZEN E LIN I LEATHER WEAR

(13) ITA 1959/2010 COMMISSIONER RICHA APPARELS ,

(14) 1960/2010 ITANo. ITA 12/2011 " .RESPONDENT 8^ . .RESPONDENT . , APPELLANT, . .RESPONDENT . . . APPELLANT . .RESPONDENT . APPELLANT . .RESPONDENT . . . APPELLANT .RESPONDENT .. . . APPELLANT . .RESPONDENT COMMiSSDOWER OF IISSGOME TAX iCAPOOR iESEDOSTRIES

(15) BTA 1980/2010 COMMSSSiONER OF HSiCOME TAX AHOJA RADIOS

(16) BTA 2074/2010 COMHVS1SSIOSS0ER SHOREWALA OVERSEAS '

(17) BTA 14/2011 COMJVSnSSBONER OF SNCOME TAX SAWGEETA JABN

(18) BTA 15/2011 COMMBSSSONER OF INCOiVIE TAX LEATHER TECB^

(19) BTA 67/2011 ' COMMISSBONER.OF INCOME TAX POROLATOR INDIA LTD. BTA 177/2011 COMMBSSiONER OF BNCO.ME TAX BALDEV RAJ JAGGI

(21) iTA 178/2011 ITANo. ITA 12/2011 . ..APPELLANT "RESPOi\IDEMT .RESPOMOENT .RESPOMOEMT . " APPELLAI^T .RESPONDENT APPELLANT .RESPONDENT .RESPONDENT .RESPONDENT COMMBSSiONER OF IlM'COME TAX. INDO GUPTA

(22) ITA 181/2011 COMMBSSIOBSSER OF BIMCOME TAX •SANGEETA JAiW (23} BTA 182/2011 COMMISSBOMER CLC CORPORATION

(24) BTA 184/2011 COMMiSSBOMER OF QNCOME TAX CLC CORPORATBON

(25) BTA 185/2011 ' COMMDSSBONER OF QNCO.ME TAX VBKAS HCALRA

(26) BTA 187/2011 CONMISSBOS^ER OF BBSiCOME TAX .AM-yj GOEL . APPELLANT .RESPONDENT . " APPELLANT . .RESPONDENT . .RESPONDENT .RESPONDENT . .RESPONDENT . .RESPONDENT Judgment Reserved on: 10.02.2011 Decision Delivered On: 18.02.2011

(27) BTA 723/2009 COMMISSIONER ITANo. ITA 12/2011 matters' . " APPELLANT PiRiYANKA OVERSEAS P. COUNSEL FOR THE REVENUE; Mr.' Kamal Se Ms. Suruchi Standing Cc Advocate. COUNSEL FOR THE ASSESSEES: Mr. Ajay Voh Mr. Somnath Mr. Manish Dayal, Mr. Pa Nair and Mr Gupta, Advoi Poonam Ahuj CORAM.:- HOM'BLE MR. JUSTICE A.K. SIKR HOM'BLE MR. JUSTICE MEH

¶1Wliether Reporters of Local new to see the Judgment?

¶2To be referred to the Reporter 0

¶3Whether the Judgment should b " . .RESPONIOEWT whney, Mr. Abhishek Maratha, ^ggarwal, Mr. Anupam Tripathi,Sr. unsel with Mr. Amit Srivastava, ra. Advocate with Mr. Kavita Jha, Shukia, Mr. Prakash Kumar and Kumar, Mr. O.P. Sapra, ,Mr. Arriit nkaj Jain, Mr. D.K. Goyal, Mr. Vijay Manish Chaudhary, Dr. Rakesh ;ate with Mr. RK. Aggarwal, Ms.' a. Advocates. TA spapers may be allowed r not? 2 reported in the Digest? A.SC. SIKRL

1.

¶1All these appeals involvedcommor|i questionof law. For the sake of convenience, we can reproduce the qLji these appeals:-. ' "(a) Whether on a correc relevant statutory provisions, law in directing the Asse deduction under section 80H of "profit" on sale of DEPB? estions of law framed in one of interpretation of the Tribunal was justified n ssing Officer to allow HC of the Act in respect

(b)Whether on the facts of th was justified in law in im assessee would be entitled first proviso below sub-Sectio respect of DEPB Creditutilizeb e present case, Tribunal pliedly holding that the :o deduction as per the n 3 of Section 80HHC in by the assessee?"

¶2The orders passed by the Tribuni^l in all these cases are' brief because of the reason that the Tribuna was supposed to) the decision of the ITAt case of Topman Export Vs. ITO [ITA N dated 11'^ August; 2009.]. By that judgr ITA No, ITA 12/2011 S( ors.connected has simply followed (which it Special Bench, Mumbai in the D. 5769/|V|um./2006 decided on nent, the Special Bench of the Tribunal has held that the face value of DE; PB is chargeable to tax u/s 28 at is, when the application for rity pursuant to exports and cess of sale proceeds of DEPB d u/s 28(iiid) at the time of its

(iiib) at the time of accrual of income, th DEPB is filed with the competent autho profit in sale of DEPB representing the ex over its face value is liable, to be consider^ sale.

¶3The Revenue had filed the appeal i Bombay against the aforesaid decision of The Bombay High Court has reversed th^ the judgment of the Bombay High Court of Income Tax Vs. Kalpataru CoSours in the High Court Adjudicate at the Special Bench of the ITAT. decision of the Tribunal and

¶5These appeals stand disposed of on FEBRUARY 18, 2011, skb iTANo. ITA 12/2011 is reported as Commssssomier 328 ITR 451.

4., Since the Tribunal had simply followed Special Bench decision in Topman Exports (supra) which stands over ruled, we set aside the order passed by the Tribunal in all these cases and remit the cases back to the Tribunal to decide these appeals on merits after tal<ing into account factual position in all these-cases. above terms. C-i, leru

THE HBGH COURT OF DELH0 AT NEW DELHS Judgment Reserved on: 10.02.2011 Decision Delivered On: 18.02.2017 (1) ITA 404/2010 COIvaiVSISSSONER ARJAN IMPEX pvt. LTD. (2) ITA 708/2010 COMMISSIONER SPENTEX INDUSTRIES LTD. (3) ITA 793/2010 COMMISSIONER PHSLCO EXPORTS. (4) ITA 927/2010 COMMISSIONER PHBLCd EXPORTS (5) ITA 1080/2010 COMMISSIONER SPENTEX INDUSTRIES LTD. (6) ITA 1886/2010 COMMISSIONER OF INCOME TAX' NITIN KUMAR SADH ITA N(). ITA 404/2010 Si ors.connected ..APPELLANT .RESPONDENT , . . APPELLANT . . .RESPONDENT . . . APPELLANT . . .RESPONDENT . .RESPONDENT APPELLANT . "RESPONDENT . APPELLANT . .RESPONDENT^ 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. (7) BTA 1887/2010 COMMISSIONER KAPOOR INDUSTRIES. (8) ITA 1896/2010 COMMISSIONER FOL KANT JHA f9) ITA 1899/2010 COMMISSIONER PAL ENTERPRISES (10) ITA 1957/2010 COMMISSEONER PRAVEEN INDUSTRIES PVT. LTD. (11) ITA 1958/2010 COMMISSIONER ZENELENI LEATHER WEAR - (12) ITA 1959/2010 COMMISSIONER RICHA APPARELS (13) 1960/2010 COMMISSIONER KAPOOR INDUSTRIES ITANo. ITA 404/2010 ..APPELLANT . "RESPONDENT . APPELLANT . . .RESPOWDENT . . APPELLANT . .RESPONDENT • . . APPELLANT , "RESPOiS5DENT . . . APPELLANT . .RESPONDENT . . . APPELLANT . .RESPONDENT . . . APPELLANT• " . .RESPONDENT (14) ITA 1980/201Q COMM8SSBONER OF 0NCOME TAX AHUJA radios' (15) 8TA 2074/2010 COMMBSSIOWER OF IMCOME TAX SHOREWALA OVERSEAS (16) 8TA 14/2011 COMMSSSBONER OF ilMCOME TAX SANGEETAJAIM ' (17) ITA 15/2011 CO!VSSVllSSSO^aER OF IMCOME TAX LEATHER TECH (18) BTA 67/2011 COMMSSSBONER OF DNCOME TAX POROLATOR 0NDBA LTD. (19) ITA 177/2011 COMMSSSlbNER BALDEV RAJ JAGG0 ITANo. ITA 404/2010 " . APPELLANT ij . ^RESPONDEIMT . , APPELLANT . . "RESPONDEiSJT . , .RESPONDENT . . .RESPONDENT : . APPELLANT . . .RESPONDENT . . .RESPONDENT (20) ITA 178/2011 COEVJMBSSiONEIl OF BtSlCOME TAX BNDU GUPTA (21) CTA 181/2011 COMMISSBONER OF BNCOIViE TAX SANGEETAJAIN (22) ITA 182/2011 COMNBSSSONER CLC CORPORATION (23) BTA 184/2011 COlVilVilSSlONER OF SNCOME TAX CLC CORPORATION (24) ITA 185/2011 COMMISSBONER OF INCOBVIE TAX VJBCAS KALRA (25) STA 187/2011 CO|V|[VlBSSiONER OF IISICOIViE TAX ANOJ GO EL . APPELLANT " . .RESPOWOENT . . .RESPONDENT " ,. .RESPONDENT . . .RESPONDENT . . .RESPONDENT . APPELLANT . .RESPOB^IDENT