2014 (5) TMI 987

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.... and diagnostic reagents and exports etc. In this case, the assessment u/s 143(3) of the Income Tax Act, 1961 (the Act) was completed on 31-1-2003 assessing the income at Rs. 34,00,070/- against the returned income of Rs. 5,73,530/- after claiming deduction u/s 80G, 80IA of Rs. 35,663/- and Rs. 3,04,97,700/- respectively. On appeal before the ld. CIT(A), the ld. CIT(A) dismissed the appeal filed by the assesse. However, the Tribunal in ITA No. 1277/Mum/2004 dtd. 26-7-2006 set aside the issue of claim of deduction u/s 80HHC and the disallowance of Rs. 6,45,664/- out of expenses to the file of the A.O. Pursuant to the order of the Tribunal, the assessee was asked to file details with regard to the above claims. In response, the assessee filed....

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....2 ITR 42 (Bom) and the decision of the Tribunal in the case of Systematic Exports vs. ACIT in ITA No. 2938/Mum/2010 for A.Y. 2001-02 dtd. 9-9-2011. He, therefore, submits that the order passed by the ld. CIT(A) in allowing the claim of the assessee be upheld. 6. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the plea of the ld. counsel for the assessee that the issue stands covered in favour of the assessee by the judgment of the Hon'ble jurisdictional High Court in the case of Associated Capsules Pvt. Ltd. (supra) wherein it has been held by Their Lordships (Headnote pages 42 & 43) : "Section 80-IA(9) of the Income-tax Act, 1961, provides that the deduc....