DXN HERBAL MANUFACTURING INDIA (P) LTD. Vs. ITO

JUDGEMENT

(1.) WHEN WP Nos. 9539 and 9540 of 2006 came up for admission today, Mrs. P.S. Pushya Sitaraman, learned senior counsel standing counsel for the Income Tax Department took notice for the respondents 1 and 2 herein.

(2.) LEARNED senior standing counsel submitted that WP No. 8619 of 2006 filed by the sixth respondent in WP Nos. 9539 and 9540 of 2006 is also connected with the above two writ petitions and in that writ petition, she had entered appearance and the same is also listed as Item No. 66 and all the writ petitions may be taken up for hearing.

(3.) THE short facts that are necessary for disposal of these writ petitions as culled out from the affidavits filed in support of the writ petitions are as follows: The case of the petitioner in these writ petitions is that in respect of the assessment year 2003 -04, the petitioner filed return of income on 28 -11 -2003 claiming, relief under section 80 -IB. Since the income taxable under section 143(3) was less than the book profit, the petitioner offered the book profit for assessment under section 115JB. The first respondent made an assessment by order dated 10 -2 -2006 disallowing the claim of relief under section 80 -IB. The income was computed under section 143(3) instead of section 115JB.