TMI Blog2005 (11) TMI 191X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of CIT vs. Sterling Foods (1999) 153 CTR (SC) 439: (1999) 237 ITR 579 (SC). Hon'ble Madras High Court in the case of CIT vs. Viswanathan Co. (2003) 181 CTR (Mad) 335 : (2003) 261 ITR 737 (Mad); CIT vs. Jameel Leathers Uppers (2000) 246 ITR 97 (Mad) and Hon'ble Delhi High Court in the case of CIT vs. Ritesh Industries Ltd. (2004) 192 CTR (Del) 81. 3. Before me, Smt. Veena Joshi, learned Departmental Representative has appeared on behalf of the appellant-Revenue. She has heavily relied on the above judgements in support of her stand. In the aforesaid judgments, it has been held that the export incentive do not form part of the profit derived from industrial undertaking and therefore not eligible for deduction under s. 80-I. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt case. The controversy has been resolved in favour of the assessee after noticing the aforesaid judgments. Therefore, having regard to the necessity to maintain consistency and concurring with the precedent decided by the coordinate Bench of the Tribunal, I am inclined to affirm the decision of the CIT(A) in the instant case. Moreover, the Tribunal in ITA Nos. 5169 and 5175 has also discussed in detail the phraseology of s. 80-IB and its difference vis-a-vis s. 80-I of the Act. Sec. 80-I was considered by the Hon'ble High Court in the case of Ritesh Industries Ltd. After noticing the phraseology of s. 80-I and 80-IB, the Tribunal concludes that the concept of profits envisaged under s. 80-IB is wider than the concept of profit envisaged i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l are to be followed at this stage, specially as the Tribunal in its latest decision in the case of Lakhvinder Singh dt. 28th Sept. 2005 has decided the issue in favour of the assessee. Moreover the Division Bench of Delhi Bench of the Tribunal in the case of Vipin Sardana has been followed by the Tribunal in Lakhvinder Singh. I, therefore, with utmost respect depart from the decision of the Tribunal in the case of Liberty India and to maintain consistency and judicial discipline decide the issue in favour of the assessee by concurring with the decisions of the co-ordinate Bench of the Tribunal which have held the issue in favour of the assessee in preference to the decision of the Tribunal in the case of Liberty India dt. 28th June, 2004. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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