TMI Blog2008 (7) TMI 1034X X X X Extracts X X X X X X X X Extracts X X X X ..... : ITA No. 790/Mum/06 is an appeal by the assessee while ITA No. 644/Mum/06 is an appeal by the revenue. Both these appeals are directed against the order dated 21/11/2005 of learned CIT (A)-IV, Mumbai relating to A.Y. 2002-03. 2. First, we shall take up for consideration the appeal by the assessee. 7. Ground No. 3, 4 and 5 raised by the assessee is with regard to computation of deducti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , which provides that deduction allowed u/s. 80IA, shall not be allowed under any other provisions of chapter VI-A of the Act. Action of the Assessing Officer was confirmed by learned CIT (A), who followed the decision in assessee's own case by ITAT in A.Y. 1999-2000. 10. Before us, learned counsel for the assessee submitted that there is no restriction in section 80HHC that the deduction u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en taking a consistent view that u/s. 80IA should not be reduced while allowing deduction u/s. 80HHC of the Act. It was submitted that since later decision of the Special Bench holding a contrary view has been overruled by Hon'ble Madras High Court, the earlier decision on the issue rendered by the Mumbai Tribunal should prevail. It was also submitted that the decision of a High Court has to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nger good law in view of the decision of the Hon'ble Madras High Court in the case of SCM Creation (supra). In the given circumstances, decision of the Tribunal prior to the decision of the Special Bench should be followed. In this regard, we have also perused the decision of the Mumbai Bench of the Tribunal in the case of ACIT vs. M/s. Iflunik Pharmaceuticals Ltd.; wherein it has been held th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... excluding excise duty and sales tax from the total turnover while allowing deduction u/s. 80HHC of the Act. 81. While deciding the similar ground in A.Y. 2002-03 in ITA No. 644/Mum/06, we have already dismissed similar ground of the appeal of the revenue for the reasons stated therein. This ground of the appeal of the revenue is dismissed. 82. In the result, the appeal by the revenue is dism ..... X X X X Extracts X X X X X X X X Extracts X X X X
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