CIT Vs. K.D. WIRES (P) LTD

JUDGEMENT

(1.) THIS is an appeal filed by the revenue (Commissioner of Income -Tax) under section 260A of the Income Tax Act against the order dated 1 -6 -1999 passed by the Tribunal in I.T.A. No. 811 /IND /95. This appeal was admitted for final hearing by this court on 11 -9 -2000 by passing the final order: ' 11 -9 -2000 Shri R.L. Jain, LC for the appellant. Heard. Substantial question of Law framed. Admit. Issue notice to the Respondent, PF within a week. List for final hearing in due course.'

(2.) PERUSAL of the afore -quoted order sheet coupled with the memo of appeal indicates that the appeal was admitted on the following substantial question of law: 'Whether on the facts and in the circumstances of the case and in law the ITAT was justified in holding that the deduction under section 80I is allowable on the gross total income without reducing therefrom the deduction under section 80HH of the Act even though the decision of the M.P. High Court in the case of M/s. J.P. Tobacco Products (P.) Ltd. (supra) has not been accepted by the department and SLP filed against it before the Hon'ble Supreme Court is pending.'

(3.) AT the out set, learned counsel for appellant brought to our notice that the issue involved in this appeal is squarely covered against the revenue by a decision referred in the question itself i.e. J.P. Tobacco Products (P.) Ltd. v. CIT : [1998]229ITR123(MP) . It is not in dispute that this judgment was later upheld by the Supreme Court when the S.L.P. filed by appellant i.e. Commissioner of Income -Tax was also dismissed in limine resulting in upholding the order passed by this court in the aforementioned case. ,