IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX APPEAL NO. 238 OF 2009 TAX APPEAL NO. 238 OF 2009 TAX APPEAL NO. 238 OF 2009 The Commissioner of Income-tax Central-II, Mumbai. ... Appellant. V/s. M/s.Siltap Chemicals. ... Respondent. P.S.Sahadevan for the appellant. B.D.Damodar for the respondent. CORAM CORAM CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. : V.C.DAGA AND J.P.DEVADHAR, JJ. : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED DATED DATED : 9th April 2009. : 9th April 2009. : 9th April 2009. P.C. P.C. P.C. : : : ---- ---- ---- . Heard learned counsel for the parties. 2. By this appeal, the following questions of law are sought to be raised: "(a) Whether on the facts a circumstances of the case and in law, the ITAT was right in law in deleting the addition of Rs.18,57,832/- incurred on cancellation of foreign exchange forward contract ignoring the fact that the loss incurred was in respect of speculative transaction? "(b) Whether on the facts a circumstances of the case and in law, the ITAT was right in law in confirming the CIT(A)’s direction to exclude duty and sales tax from total turnover for the purpose of computing deduction u/s.80HHC? 3. So far as the first question is concerned, it is covered by the order of this Court dated 30th September, 2008 passed in I.T.Appeal No.541/2008 in the case of assessee itself. 4. So far as second question is conerned, the same is covered by the judgment of this Court in the case of C.I.T. v. Sudarshan Chemicals Industries C.I.T. v. Sudarshan Chemicals Industries C.I.T. v. Sudarshan Chemicals Industries Ltd. Ltd. Ltd., (2000) 245 ITR 769 (Bom) in favour of the assessee and against the Revenue. 5. In the above view of the matter, appeal is without any merit. It is dismissed in limine with no order as to costs. (J.P.DEVADHAR, (J.P.DEVADHAR, (J.P.DEVADHAR, J.) J.) J.) (V.C.DAGA (V.C.DAGA (V.C.DAGA J.) J.) J.)