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Income Tax Appellate Tribunal, “B” BENCH, MUMBAI
Before: SHRI D.T. GARASIA, JM & SHRI MANOJ KUMAR AGGARWAL, AM
Per Manoj Kumar Aggarwal (Accountant Member) 1. The captioned appeal by assessee for Assessment Year [AY] 2002-03 assails the order of the Ld. Commissioner of Income-Tax (Appeals)-29 [CIT(A)], Mumbai, Appeal No. CIT(A)-29/RG-17/237/10-11 dated 26/08/2011. The assessment for impugned AY was framed by Ld. Assistant Commissioner of Income Tax, Circle-17(3), Mumbai [AO] u/s ITA.No.7683/Mum/2011 Marigold Impex Assessment Year-2002-03 143(3) read with Section 254 & 260A of the Income Tax Act, 1961 on 30/12/2010. None has appeared for assessee despite being provided with many opportunities of being heard. Left with no option, we proceed to dispose-off the same on the basis of material available on record and after hearing Ld. Departmental Representative [DR]. The Ld. DR has placed reliance on the stand of Ld.CIT(A) and contended that the issue stood covered against the assessee by the judgment of Hon’ble Bombay High Court.
We have considered the same. It is observed that the issue under appeal is admissibility of deduction u/s 80HHC on sale of DEPB license. The issue, in first round of appeal, was restored to the file of Ld. AO, by this Tribunal with certain directions. However, Ld. AO decided the issue against the assessee by following judgment of Hon’ble Bombay High Court in assessee’s own case for AY 2002-03 & 2003-04. The action of Ld. AO has since been confirmed by Ld. CIT(A) vide impugned order dated 26/08/2011.
In view of the above, we find no reason to interfere with the stand of Ld. CIT(A) since it has already been noted by lower authority that the issue stood covered against the assessee in his own case by jurisdictional High Court. Nothing contrary is available on record.
Resultantly, the assessee’s appeal stands dismissed. Order pronounced in the open court on 08th November, 2017.