RANBAXY LABORATORIES LTD v. NEW DELHI
Case at a glance
Outcome
Set aside
To that extent the impugned order is set aside
Provisions considered
- Income Tax Act, 1961 ss. 80IA, 80IB
Key paragraphs
- Para 33. We find that this question has been recently considered in the context of Section 80IB of the Income Tax Act in CIT v. Dharampal Prem Chand Limited: ITA 1441/2006 decided on 27.11.2008. We can dispose of this question straightaway. We find that the language…
Judgment
: Mr Ajay Vohra with Ms Kavita Jha and Mr Sriram Krishna : Ms Rashmi Chopra CORAM:- HON'BLE MR JUSTICE BADAR DURREZ AHMED HON’BLE MR JUSTICE RAJIV SHAKDHER
1. Whether Reporters of local papers may be allowed to see the judgment ?
2. To be referred to the Reporter or not ?
3. Whether the judgment should be reported in Digest ? BADAR DURREZ AHMED, J (ORAL)
Admit.
The following substantial question of law arises for the consideration of this Court:- (1) Whether on the facts and circumstances of the case the Income Tax Appellate Tribunal erred in law in denying deduction under Section 80IA of the Income Tax Act, 1961 on duty drawback and profit on sale of REP licences? ITA 571/08 Page No.1 of 2
Operative part
We find that this question has been recently considered in the context of Section 80IB of the Income Tax Act in CIT v. Dharampal Prem Chand Limited: ITA 1441/2006 decided on 27.11.2008. We can dispose of this question straightaway. We find that the language employed in Section 80IA and 80IB, in the context of the question raised above, is virtually identical. Following the view that we have taken in Dharampal Prem Chand (supra), the question raised above, is answered in favour of the assessee and against the revenue. To that extent the impugned order is set aside. The appeal stands allowed to this extent. BADAR DURREZ AHMED, J December 11, 2008 SR RAJIV SHAKDHER, J ITA 571/08 Page No.2 of 2
Questions this judgment answers
What did the Court decide in this case?
The Court recorded the following disposition: To that extent the impugned order is set aside
Which statutory provisions did this judgment involve?
Income Tax Act, 1961 — ss. 80IA, 80IB.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.