IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No. 521 of 2010 Date of Decision: 25.11.2010 The Commissioner of Income Tax ....Appellant Versus M/s Gupta Textiles ...Respondent. CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOEL. HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. PRESENT: Mr. Yogesh Putney, Advocate for the appellant. ADARSH KUMAR GOEL, J. 1. This appeal has been filed by the revenue under Section 260A of the Income Tax Act, 1961 against order of the Income Tax Appellate Tribunal, Delhi Bench 'C', New Delhi passed in ITA No. 1990/Del/08 dated 6.11.2009 for the assessment year 2004-05, proposing to raise following substantial questions of law:- “i) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was justified in allowing deduction u/s 80HHC on the face value of DEPB in the case where turnover exceeds Rs.10 crores in view of proviso (ii), (iii) and (iv) inserted by the Taxation Law (Amendment) Act, 2005 with retrospective effect from 01.04.1998? ITA No. 521 of 2010 -2- ii) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was justified in allowing deduction u/s 80HHC in respect of entire DEPB amount by incorporating the same in the computation of business profit u/s 28(iiib)?” 2. Learned counsel for the revenue points out that identical appeal being ITA No. 299 of 2010 (Commissioner of Income-tax v. M/s F.C. Sondhi & Company (P) Ltd.) filed by the revenue was allowed by this Court on 16.8.2010 and the matter remanded to the Tribunal. 3. Accordingly, this appeal is disposed of in same terms. The matter may be taken up before the Tribunal on December 20, 2010 along with connected matters and the Tribunal may thereafter proceed in accordance with law after due notice to the assessee. (ADARSH KUMAR GOEL) JUDGE November 25, 2010 (AJAY KUMAR MITTAL) gbs JUDGE