1 itxa1038-11 agk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1038 OF 2011 CG Lucy Switchgear Limited ..Appellant. Versus Asstt. Commissioner of Income-tax, Circle II, Nashik ..Respondent. Mr.Nishant Thakkar i/by Mulla & Mulla & CBC for the appellant. Mr.Vimal Gupta for the respondent. CORAM : J.P. Devadhar & Smt.R.P. Sondurbaldota, JJ. DATE : 1st July, 2011. P.C. : 1. Heard. Admit on the following substantial question of law. "Whether profits eligible for deduction under Section 80HHC of the Act can be reduced by the amount of deduction allowed under Section 80-IB of the Act ? 2. Counsel for the parties state that the aforesaid question is answered in favour of the assessee and against the Revenue in the case of Associated Capsules P Limited V/s. DCIT reported in (2011) 332 ITRT 42 (Bom). Accordingly, the appeal is disposed off by answering the question in favour of the assessee and against the Revenue. No order as to costs. (Smt.R.P. Sondurbaldota, J.) (J.P. Devadhar, J.)