2001-VIL-44-SC-DT

Equivalent Citation: [2003] 259 ITR 719 (SC)

Supreme Court of India

Civil Appeal No. 3769 of 2001

Date: 09.05.2001

COMMISSIONER OF INCOME-TAX

Vs

ALPINE SOLVEX LTD.

For the Petitioner (s) : Mr. Soli J Sorabjee, AG, Mr. Pritesh Kapoor, Adv. And Mr. B.V. Balaram Das,Adv.
For the Respondent (s) : None

BENCH

Mr. B.N. Kirpal, Mrs. Ruma Pal And Mr. Brijesh Kumar

JUDGMENT

Special leave granted.

Heard the learned Attorney General.

In our opinion, a substantial question of law did arise in this case, which is as follows

"Whether, on the facts and in the circumstances of the case and in law the Income-tax Appellate Tribunal was justified in holding that the liquidated damages received by the assessee on account of breach of contract are nothing but a part of profit received from the industrial undertaking on which the assessee is entitled for deduction under sections 80HH and 80-IA?"

The High Court, in our opinion, was wrong in dismissing the appeal in limine. We, therefore, allow this appeal, set aside the High Court's order and direct the High Court to hear the appeal on the merits.

 

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