CIT v. Amba Impex

M/S. METROCHEM INDUSTRIESLTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

M/S. METROCHEM INDUSTRIESLTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

THE DCIT, CIRCLE-4,, AHMEDABAD vs. METROCHEM INDUSTRIES LTD.,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

M/S. METROCHEM INDUSTRIES LIMITED,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-4,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

M/S. METROCHEM INDUSTRIES LIMITED,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-4,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

THE DCIT, CIRCLE-4,, AHMEDABAD vs. M/S. METROCHEM INDUSTRIES LIMITED,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

M/S. METROCHEM INDUSTRIES LIMITED,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-4,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

M/S. METROCHEM INDUSTRIES LIMITED,,AHMEDABAD vs. THE INCOME TAX OFFICER, WRD-4(2),, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

THE ACIT, CIRCLE-4,, AHMEDABAD vs. M/S. METROCHEM INDUSTRIES LIMITED,, AHMEDABAD

In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K

…for assessment year 2004-05. The grounds of appeal raised by the revenue are reproduced as under: 1. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O to follow the decision of the Hon"ble Gujarat High Court in CIT Vs. Amba Impex 282 ITR 144 and rework the deduction u/s 80HHC in connection with exchange rate fluctuation income of Rs.45,44,550/-. 2. The Ld. CIT(A) erred in law and on the facts of the case in directing the A.O not to include sales tax and excise duty in the total turnover for the purpose of computation of deduction u/s 80HHC. 3. On the facts and in the circumstances or…

LIONBRIDGE TECHNOLOGIES P. LTD,NAVI MUMBAI vs. ASST CIT 15(2)(1), MUMBAI

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm I.T.(Tp)A. No. 912/Mum/2016 Assessment Year: 2011-12 M/S. Lionbridge Technologies Pvt. Ltd Asst Cit 15(2)(1) 3Rd Floor, Reliable Tech Park Off R. No. 403, 4Th Floor, Vs. Thane, Belapur Road Airoli, Aayakar Bhavan, M.K. Road Navi Mumbai – 400 708 Mumbai – 400 020 Pan/Gir No. Aabct3380Q (Appellant) : (Respondent) I.T.(Tp)A. No.1600/Mum/2016 Assessment Year: 2011-12 Asst Cit 15(2)(1) M/S. Lionbridge Technologies Pvt. Ltd. R. No. 403, 4Th Floor, Ltd., 3Rd Floor, Reliable Tech Park Off Vs. Aayakar Bhavan, M.K. Road Thane, Belapur Road Airoli, Navi Mumbai – 400 020 Mumbai – 400 708 Pan/Gir No. Aabct3380Q ( Appellant) : ( Respondent)

…of the Division Bench of this Court in CIT vs. Amber Export (India) (IT Appeal 1249 of 2007 decided on 18th Feb., 2009). The judgment of this Court in turn followed the decision of the Gujarat High Court in CIT vs. Amba Impex (2006) 201 CTR (Guj) 409 : (2006) 282 ITR 144 (Guj) . The sole ground which has been urged on behalf of the Revenue in support of the appeal on this issue is based on the judgment of a Division Bench of this Court in CIT vs. Shah Originals (IT Appeal No. 431 of 2008 decided on 22nd April, 2010) [reported at (2010) 39 DTR (Bom) 145 : (2010) 232 CTR (Bom) 228—Ed.]”. We thus find that the DRP…

DCIT 8(2), MUMBAI vs. PERFECT ENGINERING PRODUCTS LTD, MUMBAI

Bench: Shri Joginder Singh & Shri Rajendraassessment Year:-2009-10 Dcit-8(2), M/S Perfect Engineering Room No.209/216A, Products Ltd. बनाम/ 2Nd Floor, 31, Golden Beach, Vs. Aayakar Bhavan, Ruiya Park, Juhu, M.K. Road, Mumbai-400049 Mumbai-400020 Pan No. Aabcp6180E (राज"व /Revenue) ("नधा"रती /Assessee) 2 C.O. No.197/Mum/2015 M/S Perf Ect Engineering Products Ltd.

…of Income Tax v. Shah Originals (ITA 431 of 2008 decided on 22 April 2010). The decision in Shah Originals is, however, distinguishable for the reason that the foreign fluctuation in that case arose after the export transaction had been completed and 5 (2006) 282 ITR 144 (Guj) after the export profits were deposited by the assessee in an EEFC Account. This is evident from the following observations : "The assessee admittedly in the present case received the entire proceeds of the export transaction. The Reserve Bank of India, has granted a facility to certain categories of exporters to maintain a certain proport…