The Commissioner Of Income Tax v. Smt.Sarita Handa

$~R-54 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA NO. 783/2005 THE COMMISSIONER OF INCOME TAX ..... Appellant Through Mr. Zoheb Hossain, Sr. Standing Counsel versus SMT. SARITA HANDA ..... Respondent Through Mr. A. P. Sinha, Adv.

CORAM:

HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE CHANDER SHEKHAR

O R D E R

% 19.01.2018 This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 in the case of Sarita Handa relates to Assessment Year 2001-02 and arises from the order of the Income Tax Appellate Tribunal in ITA No.3537/Del/2004.

2.

The appeal was admitted vide order dated 5th September, 2005, on the following substantial question of law:- "Whether amount received from sale of DEPB receipts under section 28(iv) and (sic. is) „profit to the business‟ within the meaning of clause (baa) of the Explanation to Section 80HHC (4B) of the Act, 1961?"

3.

Counsel for the parties are ad idem that the questions of law are covered by the decision of the Supreme Court in the case of IPCA Laboratories Ltd. Vs. DCIT, (2004) 266 ITR 521 and Tompan

Exports Vs. Commissioner of Income Tax, Mumbai, (2012) 3 SCC 593.

4.

The Assessing Officer will accordingly re-compute the deduction under Section 80HHC applying the principles as laid down in the aforesaid decisions.

5.

The questions of laws are accordingly answered without any order as to costs.

SANJIV KHANNA, J CHANDER SHEKHAR, J JANUARY 19, 2018 b