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2021 (2) TMI 894 - AT - Income TaxDenying double deduction(s) u/s.80HHC and Sec.80I - HELD THAT:-DR fails to dispute that the Revenue’s Special Leave Petition [2015 (12) TMI 708 - SUPREME COURT] stands dismissed - Thus Corresponding hon'ble high court’s order deciding the issue in assessee’s favour and against the department has attained finality that the twin claims of Section 80HHC and Section 80-IA raised at the former’s behest qua profits of the eligible business undertaking do not amount to double deduction. Revenue’s objections that once this tribunal’s remand directions had made it clear that the issue had to be decided in view of the Special Bench’s decision [2009 (6) TMI 124 - ITAT DELHI-C]- On one hand is tribunal’s remand order directing the Assessing Officer to follow its yet another Special Bench (supra) which itself stands overruled in ASSOCIATED CAPSULES P. LTD. VERSUS DEPUTY COMMISSIONER OF INCOME-TAX [2011 (1) TMI 787 - BOMBAY HIGH COURT]and on the other hand is the judicial verdict directly on the issue coming from the Hon'ble highest court of land. We thus quote Article-141 of the Constitution of India and hold that judicial discipline requires that all judicial forums must make way for the hon'ble apex court’s decision on the relevant issue. It must therefore be presumed that the issue now stands settled upto hon'ble Supreme Court in assessee’s favour with retrospective effect in other words. We thus accept the assessee’s sole substantive grievance in principle and leave it open for the Assessing Officer to finalise consequential computation as per law. It is made clear that although the assessee has filed its calculation sheet(s) regarding Section 80-IA and Section 80HHC deduction(s) pertaining to the alleged eligible undertakings, this latter component is restored back to the Assessing Officer to arrive at his final conclusion as per law after factual verification of the necessary records.
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