M/s. CIPLA LTD., MUMBAI V. DCIT CENT. CIR. - 2, MUMBAI

ITA 6853/MUM/2005

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 84522 (ITAT-MUMBAI)
• Duration Of Justice: 9 year(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-12-2014
• Appeal Filed By: Assessee
• Bench Allotted: G
• Next Hearing Date: 15-12-2014
• Assessment Year: 2002-2003
• Appeal Filed On: 25-11-2005
• Court: TRIBUNAL
• Department Lawyers: THIS TRIBUNAL VIDE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER ITA NO.6853/MUM/2005 ASSESSMENT YEAR: -2002-03 CIPLA LIMITED, MUMBAI CENTRAL, MUMBAI 400 008. VS.` DCIT, CENTRAL CIRCLE 2, CGO BUILDING M.K. MARG, MUMBAI - 400 020. PAN:- AAACC450B APPELLANT RESPONDENT ORDER PER VIJAY PAL RAO, JM THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 30.09.2005 OF CIT(A) FOR A.Y. 2002-03. THE APPEAL OF THE ASSESSEE WAS EARLIER DISPOSED OFF BY THIS TRIBUNAL VIDE ORDER DATED 10.07.2008. SUBSEQUENTLY ON THE MISCELLANEOUS APPLICATION BY THE ASSESSEE, THE TRIBUNAL RECALLED THE ORDER TO THE EXTENT OF GROUND NO. 4 OF THE ASSESSEES APPEAL VIDE ORDER DATED 21. 09.2012 FOR DECIDING THE ISSUE OF DEDUCTION U/S 80-HHC AFRESH. THEREFORE, THE APPEAL OF THE ASSESSEE IS PLACED BEFORE US ONLY FOR ADJUDICATION OF GROUND NO. 4 OF THE ASS ESSEES APPEAL WHICH READS AS UNDER:- 4. YOUR APPELLANT IS AGGRIEVED BY THE ACTION OF T HE ASSESSING OFFICER IN REDUCING THE PROFITS AND GAINS OF BUSINESS, IN THE PROCESS OF COMPUTATION OF DEDUCTION U/S 80-HON'BLE HIGH COURT OF THE INCOME T AX ACT, BY AN AMOUNT OF RS. 15,94,,33,930/-. ASSESSEE SHRI V. MOHAN REVENUE BY SHRI KISHAN VYAS DATE OF HEARING 15.12.2014 DATE OF PRONOUNCEMENT 15.12.2014 CIPLA LIMITED, 2 | P A G E 2. WE HAVE HEARD THE LD. AR AS WELL AS LD. DR AND C ONSIDERED THE RELEVANT MATERIAL ON RECORD. THE LD. AUTHORIZED REPRESENTAT IVE OF THE ASSESSEE HAS POINTED OUT THAT AN IDENTICAL ISSUE HAS BEEN DECIDE D BY THE HON'BLE HIGH COURT IN FAVOUR OF THE ASSESSEE FOR A.Y. 1999-2000, 2000-01 & 2003-04. WE NOTE THAT FOR THE A.Y. 1999-2000 THE HON'BLE HIGH COURT IN ITA NO . 6901 OF 2010, VIDE ITS ORDER DATED 01 ST JULY 2011 HAS CONSIDERED AND DECIDED THIS ISSUE IN PARA 2 AS UNDER:- COUNSEL FOR THE PARTIES STATE THAT THE AFORESAID QUESTION IS ANSWERED IN FAVOUR OF THE ASSESSEE AGAINST THE REVENUE IN THE CASE OF ASSOCIATED CAPSULES P LIMITED VS. DCIT REPORTED IN ( 2011) 332 ITRT 42 (BOM). ACC ORDINGLY, THE APPEAL IS DISPOSED OFF BY ANSWERING THE QUESTION IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE. NO ORDER AS TO COSTS. 3. THUS IT IS CLEAR THAT AS FAR AS THE MERITS OF TH E ISSUE IS CONCERNED, THE SAME IS NOW SETTLED IN FAVOUR OF THE ASSESSEE. HOWEVER, THE ASSESSING OFFICER IS DIRECTED TO COMPUTE THE DEDUCTION U/S 80-HHC IN THE LIGHT OF TH E DECISION OF HON'BLE HIGH COURT. 4. IN THE RESULT APPEAL OF THE ASSESSEE QUA GROUND NO. 4 IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 15 TH DAY OF DECEMBER 2014. SD/- SD/- ( D. KARUNAKARA RAO ) (VIJAY PAL RAO) (ACCOUNTANT MEMBER/ YS[KK LNL; YS[KK LNL; YS[KK LNL; YS[KK LNL; ) (JUDICIAL MEMBER/ U;KF;D LNL; U;KF;D LNL; U;KF;D LNL; U;KF;D LNL; ) MUMBAI DATED 15-12-2014 SKS SR. P.S, CIPLA LIMITED, 3 | P A G E COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CONCERNED CIT(A) 4. THE CONCERNED CIT 5. THE DR, D BENCH, ITAT, MUMBAI BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI