1 itxa5770-10 agk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.5770 OF 2010 Commissioner of Income Tax - 12, Mumbai ..Appellant. Versus Al-Kabeer Exportes Limited ..Respondent. Mr.Vimal Gupta for the appellant. Mr.Murlidharan with Mr.B.G. Yewale i/by Rajesh Shah & Co. for the respondent. CORAM : J.P. Devadhar & Smt.R.S. Dalvi, JJ. DATE : 22nd March, 2011. P.C. : 1. Heard. Admit on the following substantial question of law. Whether on the facts and in the circumstances of the case and in law the Tribunal was justified in allowing deduction u/s 80HHC of the Income TAx Act on DEPB license proceeds amounting to Rs.2,45,90,199/- ? 2. Counsel for the parties state that the question of law is answered in favour of the Revenue and against the assessee by the decision of this Court inthe case of Commissioner of Income Tax V/s. Kalpataru Colors & Chemicals reported in (2010) 328 ITR 451 (Bom.). 2 itxa5770-10 3. Accordingly, the aforesaid question is answered in the negative i.e. in favour of the Revenue and against the assessee. The appeal is accordingly disposed off with no order as to costs. (Smt.R.S. Dalvi, J.) (J.P. Devadhar, J.)