Full Judgment Text & Judicial Ruling

Court Name: Supreme Court of India Judge(s): S. Rajendra Babu, B. N. Kirpal Title: COMMISSIONER OF INCOME-TAX vs GOGINENI TOBACCO LTD. , Case No.: Civil Appeal No,3790 of 1999 tax Case No,45 of 1998 Date of Judgment:1999-07-15 Reported As: 2004 PTD 2149 Result: Order accordingly

Judgment ORDER ' Special leave granted. ' After hearing counsel for the parties, in our opinion, the High Court was not correct in dismissing the application under section 256(2) of the Income Tax Act, 1961. A question of law does arise. We, therefore, allow the appeal and direct the Tribunal to state the case and refer the following question of law to the High Court: "Whether, on the facts and in the circumstances of the case, benefit of section 80HHC can be claimed on the total income after deduction of unabsorbed losses and unabsorbed depreciation or otherwise?"

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