COMMISSIONER OF INCOME TAX Vs. ITW INDIA LTD.

JUDGEMENT

(1.) The present judgment shall dispose of three appeals which are directed against the order dated 5.4.2013 passed by the Income Tax Appellate Tribunal pertaining to the assessment years 2002-03, 2003-04 Other Connected Appeals and 2004-05. For decision of the appeals, the facts are being taken from Income Tax Appeal No. 208 of 2014 pertaining to the assessment year 2002-03.

(2.) The revenue has raised the following substantial questions of law for consideration of this Court:-

(3.) The undisputed facts are that the respondent-assessee company had filed its return for the year in question on 31.10.2002 for returned income of Rs. 24,49,94,815/- after taking benefit of deduction of Rs. 1,11,83,170/- under Section 80HHC of the Income Tax Act, 1961 (hereinafter referred to as "the Act"). The said deductions pertaining to service income of Rs. 52,86,87,813/- were claimed in the duly supported form No. 10CCAC which was filed along with the return of income and the detailed working computation of deduction had been given along with the Auditor's Report. The claim of benefit was reduced to Rs. 1,02,01,403/- after excluding the excise duty and the sales tax from the turnover and that point was within the knowledge of the Assessing Officer that the assessee had received the said service income and the claim of deduction was related to such service income and the income was then assessed at a sum of Rs. 24,86,85,407/- on 31.3.2005.