ADDL. CIT Rg. 9(1), MUMBAI v. M/s. AJANTA PHARMA LTD., MUMBAI

ITA 7202/MUM/2004 | 2001-2002
Pronouncement Date: 22-07-2011

Appeal Details

RSA Number 720219914 RSA 2004
Assessee PAN AAACA5579P
Bench Mumbai
Appeal Number ITA 7202/MUM/2004
Duration Of Justice 6 year(s) 9 month(s) 15 day(s)
Appellant ADDL. CIT Rg. 9(1), MUMBAI
Respondent M/s. AJANTA PHARMA LTD., MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 22-07-2011
Appeal Filed By Department
Bench Allotted E
Tribunal Order Date 22-07-2011
Date Of Final Hearing 14-07-2011
Next Hearing Date 14-07-2011
Assessment Year 2001-2002
Appeal Filed On 07-10-2004
Judgment Text
1 ITA NO. 7202/MUM/2004 (ASST YEAR 2001-02) IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI E BENCH MUMBAI BENCHES MUMBAI BEFORE SHRI PRAMOD KUMAR AM & SHRI VIJAY PAL RAO JM ITA NO. 7202/MUM/2004 (ASST YEAR 2001-02) THE ADDL COMMR OF INCOME TAX RANGE 9(1) MUMBAI VS M/S AJANTA PHARMA LTD 98 CHARJKO INDL ESTATE KANDIVALI (W) MUMBAI 61 (APPELLANT) (RESPONDENT) PAN NO. AAACA5579P ASSESSEE BY SHRI MADHAV AGARWAL REVENUE BY SHRI B JAYAKUMAR PER VIJAY PAL RAO JM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 30.7.2004 OF THE CIT(A) FOR THE ASSESSMENT YEAR 2001-02 2 THE FOLLOWING EFFECTIVE GROUND HAS BEEN TAKEN BY THE REVENUE IN THIS APPEAL: ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD CIT(A) HAS ERRED IN HOLDING THAT THE ENTIRE PROFIT EARNED FROM EXPORTS AS COMPU TED IN CLAUSES (A) TO (C) OF SECTION 80HHC (3) IS ELIGIBLE FOR REDUCTION UNDER CLAUSE (I V) OF EXPLANATION TO SEC 115JB OF THE I T ACT 1961 AND THEREBY DIRECTING TO ALLOW THE RED UCTION OF RS. 6 64 25 939/- AS PROFIT FROM EXPORTS WHILE COMPUTING THE BOOK PROFITS U/S 1 15JB OF THE I T ACT. 3 WE HAVE HEARD BOTH THE PARTIES AND CONSIDERED THE RELEVANT RECORDS. EARLIER THIS APPEAL OF THE REVENUE WAS DISMISSED BY THE TRI BUNAL VIDE ORDER DATED 30.11.2007. THE REVENUE CHALLENGED THE ORDER OF TH IS TRIBUNAL BY FILING THE APPEAL 2 ITA NO. 7202/MUM/2004 (ASST YEAR 2001-02) BEFORE THE HONBLE JURISDICTIONAL HIGH COURT THE H ONBLE HIGH COURT VIDE ITS DECISION DATED 7.5.2009 ALLOWED THE APPEAL OF THE REVENUE AN D REVERED THE ORDER OF THE TRIBUNAL. THE ASSESSEE CARRIED THE MATTER BEFORE T HE HONBLE SUPREME COURT IN CIVIL APPEAL NO.7518 OF 2010 ARISING OUT OF SLP NO.22397 OF 2009. THE HONBLE SUPREME COURT HAS SET ASIDE THE JUDGMENT OF THE JURISDICTIO NAL HIGH COURT REPORTED IN 327 ITR 305 AND RESTORED THE ORDER OF THE TRIBUNAL VIDE ORD ER DATED 9.9.2010 4 IT APPEARS THAT THE CASE RECORDS WERE SENT TO THE HONNBLE SUPREME COURT BY THE REGISTRY OF THIS TRIBUNAL AND AFTER DISPOSAL OF THE MATTER BY THE HONBLE SUPREME COURT VIDE DECISION DATED 9.9.2010 THE ORIGINAL RE CORDS ALONG WITH THE COPY OF THE JUDGMENT AND DECREE OF THE HONBLE SUPREME COURT SE NT BACK TO THE REGISTRY. UPON RECEIPT OF THE ORIGINAL RECORDS OF THE CASE THE FI LE OF THE CASE WAS MISTAKENLY LISTED FOR HEARING BEFORE THIS TRIBUNAL. AFTER GOING THRO UGH THE RECORDS IT TRANSPIRED THAT THE CASE HAS ALREADY BEEN DISPOSED OFF AS NOTED ABO VE AND NO FURTHER PROCEEDINGS OR ORDER IS REQUIRED. ACCORDINGLY THE CASE IS DELI STED FROM THE CAUSE LIST/BOARD OF THIS TRIBUNAL AS THE SAME HAS ALREADY BEEN DECIDED AND A TTAIN THE FINALITY AS PER THE DECISION OF THE HONBLE SUPREME COURT. THE APPEAL STANDS DISPOSE OFF ACCORDINGLY. ORDER PRONOUNCED ON THE 22ND DAY OF JULY 2011. SD/- SD/- ( PRAMOD KUMAR ) ACCOUNTANT MEMBER ( VIJAY PAL RAO ) JUDICIAL MEMBER PLACE: MUMBAI : DATED:22 ND JULY 2011 RAJ* 3 ITA NO. 7202/MUM/2004 (ASST YEAR 2001-02) COPY FORWARDED TO: 1 APPELLANT 2 RESPONDENT 3 CIT 4 CIT(A) 5 DR /TRUE COPY/ BY ORDER DY /AR ITAT MUMBAI