Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (5) TMI 1552 - HC - Income TaxDeduction u/s 80IB - refund of excise duty - Held that:- It was not disputed by learned counsel for the parties that in view of the order of even date passed in Nexo Industries Private Limited Vs. Commissioner of Income Tax, Ludhiana (2017 (5) TMI 1404 - PUNJAB & HARYANA HIGH COURT) relating to claim for deduction under Section 80IB of the Act in respect of refund of excise duty where the matter has been remanded to the Assessing Officer to readjudicate after affording opportunity of hearing to the assessee, the issue in the present case relating to deduction under Section 80IB of the Act is to be sent back for fresh decision in accordance with law. Deduction under Section 80HHC - claim be declined in pursuance to retrospective amendment in the Act relatable to option to be made amongst duty draw back and DEPB after the conclusion of an event - Held that:- The amendment was prospective and was invalid to the extent of being made retrospective. The Supreme Court considering the similar issue regarding constitutional validity of the provisions held the same to be prospective in nature in Commissioner of Income Tax and another vs. Avani Exports and others, (2015 (4) TMI 193 - SUPREME COURT). In the present case, the Tribunal also had declined the claim of the assessee under Section 80HHC of the Act by taking into consideration the amended provisions which have been held to be prospective - matter is referred back to the Assessing Officer for examining the matter afresh in respect of claim under Section 80HHC of the Act as well
|