75th Founding Day Lecture Meeting on “India@2030” Know More

May 2010

Substantial question of law — Whether the assessee was entitled to deduction u/s.80-IA of the Act on the amount of entire eligible income without reducing the amount of export incentives from the same.

By Kishor Karia | Chartered Accountant
Atul Jasani | Advocate
Reading Time 1 mins

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6 Substantial question of law — Whether the assessee was
entitled to deduction u/s.80-IA of the Act on the amount of entire eligible
income without reducing the amount of export incentives from the same.


[ACIT v. Neo Sack P. Ltd., (2009) 319 ITR 124 (SC)]

The High Court dismissed the appeal on the aforesaid question
holding that it did not arise from the order of the Tribunal and therefore could
not be made a subject matter of appeal u/s.260A of the Act. On appeal, the
Supreme Court was of the view that the question raised was an important question
of law arising for interpretation of S. 80-IA of the Act. The said question was
neither answered by the Tribunal nor by the High Court. The Supreme Court
therefore granted liberty to the Department to move to the High Court and raise
the issue specifically and in case the High Court found that the answer to the
above question needed factual finding(s), it may remit the case to the Tribunal
for disposal on merits in accordance with law.

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