2012 (7) TMI 964

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....rder of the CIT(A), Jammu, dated 28.01.2012 for the assessment year 2008-09 on the following grounds: "1 On the facts and circumstances whether the Ld. CIT(A) was right in allowing relief on account of deduction u/s 80IB on Central Excise Duty refund by relying upon orders of Hon'ble High Court if J&K, Jammu which has been delivered not on merits of the issue but holding the receipt to be a ....

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.... circumstances and in law in not considering the decision in the case of Seaham Harbour Dock Company which lays down two important tests for determining whether receipts is a trading receipt or a capital receipt. 4. On the facts and circumstances whether the Ld. CIT(A) was right in facts and circumstances and in law in not appreciating and applied the purpose test as laid down by the judgments o....

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....lable with us. We are of the view that as regards the issue involved in ground Nos. 1 to 4 relating to deduction under section 80IB on Excise Duty Refund, it is an admitted fact that the issue in dispute has already been adjudicated and decided in favour of the assessee by the decision of the Hon'ble Jurisdictional High Court of Jammu & Kashmir in the case of Shree Balaji Alloys v. CIT and Ano....