1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. INCOME TAX APPEAL (LODG.) NO.1293 OF 2010 The Commissioner of Income Tax- 18 ..Appellant. Vs. M/s.Om Inter Continental ..Respondent. .... Mr. D.K.Kamwal for the Appellant. Mr. Sanjiv M. Shah for the Respondent. ..... CORAM : DR.D.Y.CHANDRACHUD & J.P.DEVADHAR, JJ. 29 June 2010. P.C. : 1. Eight questions of law have been raised by the Revenue in this appeal under Section 260-A of the Income Tax Act, 1961. The first question relates to the direction of the Tribunal to the Assessing Officer to allow a deduction under Section 80HHC in respect of export proceeds in the amount of Rs.38.32 lacs. Though this amount was not realized within a period of six months of the end of the accounting year, the Tribunal has found, as a matter of fact, that applications were made to the authorized dealer for extension of time 2 and when foreign exchange was realized, the General Inward Remittance (GIR) was also issued. In view of this finding of fact by the Tribunal, the first question will not give rise to any substantial question of law. Insofar as the remaining questions are concerned, an order of remand has been passed by the Tribunal while restoring the issue to the Assessing Officer. 2. By its impugned order the Tribunal has restored the matter to the Assessing Officer for a fresh decision in the light of the judgment in the case of Topman Exports v. ITO (ITA 5769/Mum/2006 dated 11 August 2009). By the judgment delivered today in the Commissioner of Income Tax v. Kalpataru Colours and Chemicals (ITA(L) 2887 of 2009), the view of the Tribunal in the case of Topman has been disapproved. In the circumstances, this appeal is disposed of, on the request of learned counsel for the Revenue and the assessee, by directing the Assessing Officer to dispose of the proceedings in accordance with law and, while passing fresh orders to have due regard to the judgment of this Court in the 3 case of Kalpataru Colours and Chemicals (supra). The appeal is accordingly disposed of. There shall be no order as to costs. (Dr. D.Y.Chandrachud, J.) (J.P. Devadhar, J.)