This income tax appeal addresses two substantial questions regarding the computation of deductions under section 32AB and the limit of tax credit under sections 90/91 when section 10A exemptions are involved. The High Court admitted the appeals on specific questions of law without rendering further decision in this text.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARYORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.11 OF 2006
Tata Infotech Ltd. ..Appellant.
V/s.
Dy. Commissioner of Income-tax ..Respondent.
Mr.B.H. Patil, senior advocate i/b. Aasifa Khan for
appellant.
Mr.A.D.Kango for respondent.
CORAM : V.C. DAGA AND
J.P.DEVADHAR, JJ.
DATED : 12TH JUNE, 2006.
P.C. :-
Heard. Admit on the following substantial
questions of law:-
1. Whether on the facts and in the circumstances
of the case and in law, ITAT was right in
holding that income exempted under section 10A
of the Act should be reduced from the profits
of the eligible business while computing
deduction u/s.32AB of the Act ?
2. Whether on the facts and in the circumstances
of the case and in law, the ITAT erred in
restricting the relief u/s.90/91 of the Act to
50% of the overseas taxes paid as against 100%
claimed by the Appellant Company ?
Mr.A.D. Kango waives service on behalf of
the department.
To be heard along with ITA No.545 of 2001.
(V.C. DAGA, J.)
(J.P.DEVADHAR, J.)
2 issues framed by the court
Whether income exempt under section 10A should be reduced from profits when computing deduction under section 32AB?
Whether restriction on relief under sections 90/91 to 50% of overseas taxes paid was erroneous compared to claimed 100%?
3 provisions across 1 enactments
Tata Infotech Ltd.
Dy. Commissioner of Income-tax
V.C. DAGA
J.P.DEVADHAR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court