ASIAN EXIM INTERNATIONAL vs. CIT, JALANDHAR

ITA/469/2010HC Punjab & HaryanaPHHC01093405201018 April 2011Author: MR. JUSTICE AJAY KUMAR MITTAL,MR. JUSTICE ADARSH KUMAR GOEL3 pages
AI SummaryDismissed

What were the facts?

The assessee, Asin Exim International, filed Income-tax Appeal No. 469 of 2010 before the Punjab and Haryana High Court against an order dated 30.10.2009 passed by the Income Tax Appellate Tribunal (ITAT), Amritsar Bench. The appeal pertains to the assessment year 2004-05. The High Court was dealing with this appeal along with several other connected appeals filed by the assessee and the revenue, due to common questions of law. The files for some of these connected appeals were unavailable due to a fire in the court premises, and photocopies of paper books were taken on record. The High Court consolidated all these appeals for disposal.

What did the High Court hold?

The High Court dismissed the appeals filed by the assessee and allowed the appeals filed by the revenue. The Court held that Section 80IA(9) of the Income Tax Act, 1961, bars a claim for deduction under any other provision of Chapter VI-A if a deduction under Section 80-I has already been allowed. The Court found that its own decision in Friends Castings (P) Ltd. was squarely applicable. The Court also expressed respectful agreement with the views of the Kerala High Court in Olam Exports (India) Ltd. and the Delhi High Court in Great Eastern Exports. The Court was not persuaded to take a different view from the Bombay High Court in Associated Capsules (P) Ltd. Therefore, the Tribunal's restriction on the claim for deduction was upheld, and the eligibility of the Duty Entitlement Pass Book Scheme and interest received for deduction under Section 80IB was denied based on the interpretation of Section 80IA(9).

What were the issues?

1. Whether, on the true and correct interpretation of Section 80HHC read with Section 80IA(9) and Section 80IB(13) of the Income Tax Act, 1961, the Tribunal erred in restricting the assessee's claim for deduction? (Question of law) 2. Whether the Duty Entitlement Pass Book Scheme and interest received are amounts derived and eligible for claim under Section 80IB of the Income Tax Act, 1961? (Question of mixed law and fact) Assessee's Contentions: The assessee argued that the Tribunal had erred in restricting its claim for deduction. The assessee also relied on the Bombay High Court's decision in Associated Capsules (P) Ltd. Vs. Deputy Commissioner of Income Tax & another (2011) 50 DTR Judgments 65, which took a different view on the matter. Revenue's Contentions: The revenue contended that the claim for deduction was not admissible. The revenue relied on the High Court's own previous decision in Friends Castings (P) Ltd. Vs. Commissioner of Income Tax (2011) 50 DTR Judgments 61, as well as decisions of the Kerala High Court in Olam Exports (India) Ltd. Vs. Commissioner of Income Tax (2010) 34 DTR Judgments 133 and the Delhi High Court in Great Eastern Exports Vs. Commissioner of Income Tax (2011) 49 DTR Judgments 33.

Which sections of the Income-tax Act were involved?

Section 80HHC,Section 80IA(9),Section 80IB(13),Section 80-I,Section 260A

AI-generated summary — verify with the full judgment below

Income-tax Appeal No.469

of 2010

-1- *** IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Income-tax Appeal No.469

of 2010

Date of decision: 18.4.2011 Asin Exim International ...Appellant Versus Commissioner of Income Tax, Jalandhar, Punjab ...Respondent and other connected appeals being ITAs No. 496, 497, 498 of 2007, 638, 639 of 2008, 394, 395, 471 of 2009,53, 470 and 481 of 2010. CORAM: HON'BLE MR.JUSTICE ADARSH KUMAR GOEL HON'BLE MR.JUSTICE AJAY KUMAR MITTAL Present: Mr. Pankaj Jain, Advocate for the assessee. Mr. Rajesh Katoch, Senior Standing Counsel.

Mr. Vivek Sethi, Senior Standing Counsel.

**** ADARSH KUMAR GOEL, J.

1.

Since the Registry has not been able to send the files of ITAs No.496, 497, 498 of 2007, 638, 639 of 2008, 394, 395, 471 of 2009, 53 and 481 of 2010 on account of fire in the Court premises, learned counsel for the assessee has furnished photocopies of paper books, which are taken on record.

2.

This order will dispose of ITAs No.496, 497, 498 of 2007, 638, 639 of 2008, 394, 395, 471 of 2009,53, 469, 470 and 481 of 2010 as learned counsel for the assessee appearing in

The order continues below.

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