IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. I.T.A. No.712 of 2010 & other connected cases being ITA Nos.713 and 714 of 2010 Date of decision: 23.12.2010 The Commissioner of Income Tax. -----Appellant. Vs. M/s Handfab India. -----Respondent CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOEL HON'BLE MR. JUSTICE AJAY KUMAR MITTAL Present:- Mr. Yogesh Putney, Sr. Standing counsel for the appellant. --- ADARSH KUMAR GOEL, J. This order will dispose of ITA Nos.712 to 714 of 2010 as all the appeals involve common questions of law. I.T.A. No.712 of 2010 has been preferred by the revenue under Section 260-A of the Income Tax Act, 1961 (for short, “the Act”) against the order dated 29.9.2010 of the Income Tax Appellate Tribunal, New Delhi in I.T.A. No.1987/Del/ 2008 for the assessment year 1999-2000 claiming 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 80 HHC on the face I.T.A. No.712 of 2010 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? ii) Whether on the facts and in the circumstances of the case, the Hon’ble ITAT was justified in allowing deduction u/s 80 HHC in respect of entire DEPB amount by incorporating the same in the computation of business profit u/s 28 (iiib)?” Learned counsel for the revenue states that the matter is covered in favour of the revenue by order of this Court dated 16.8. 2010 in I.T.A. No.299 of 2010 Commissioner of Income Tax v. M/s F.C. Sondhi & Company (P) Ltd. In view of above, the appeals are disposed of in same terms. The questions proposed are answered accordingly and the matter is remanded to the ITAT for fresh decision in accordance with law. If the respondents are aggrieved by this order, they will be at liberty to move this Court. A photocopy of this order be placed on the file of each connected case. (ADARSH KUMAR GOEL) JUDGE December 23, 2010 ( AJAY KUMAR MITTAL ) ashwani JUDGE 2