2020 (11) TMI 708

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....R. JUSTICE H.T.NARENDRA PRASAD APPELLANTS (BY SRI. E.I. SANMATHI, ADV.) RESPONDENT (BY SRI. S. PARTHASARATHI, ADV.) JUDGMENT ALOK ARADHE J., This appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment Year 2010-11. The appeal was admitted b....

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....l briefly stated are that the assessee is a company engaged in the business of manufacture of pharmaceuticals. The assessee filed return of income for the Assessment Year 2010-11 on 18.09.2010 declaring the total income of Rs. 66,76,95,460/-. The Assessing Officer, vide order dated 18.05.2012 completed the assessment on book profits chargeable under Section 115-JB of the Act at Rs. 2,55,75,40,181/....

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....ncurred on scientific research, has placed reliance on the decision of Gujarat High Court in 'CIT Vs. CADILA HEALTHCARE LTD.' 2014 TAXMANN 672 and has answered the issue in favour of the assessee. It is further submitted that no independent finding has been recorded by the Tribunal on the aforesaid issue. The aforesaid fact could not be disputed by the learned counsel for the assessee. ....