M/S. VIJAY INDUSTRIES vs COMMISSIONER OF INCOME TAX. Supreme Court, 01-03-2019
| Judge | HON'BLE MR. JUSTICE A.K. SIKRI, HON'BLE MR. JUSTICE SANJAY KISHAN KAUL |
| Court | Supreme Court (India) |
| Date | 01 March 2019 |
| Parties | M/S. VIJAY INDUSTRIESCOMMISSIONER OF INCOME TAX |
| Docket Number | C.A. No.-001581-001582 / 2005 |
REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NOS. 1581-1582 OF 2005
M/S. VIJAY INDUSTRIES .....APPELLANT(S)
VERSUS
COMMISSIONER OF INCOME TAX
.....RESPONDENT(S)
WITH
CIVIL APPEAL NO. 2878 OF 2015
CIVIL APPEAL NO. 2877 OF 2015
CIVIL APPEAL No. 2416-2417 OF 2019
(ARISING OUT OF SLP (CIVIL) NO. 6326-6327 OF 2019)
ARISING OUT OF DIARY NO. 39430 OF 2017
CIVIL APPEAL NO. 2420-2421 OF 2019
(ARISING OUT OF SLP (CIVIL) NO. 6328-6329 OF 2019)
ARISING OUT OF DIARY NO. 39436 OF 2017
CIVIL APPEAL NO. 2414-2415 OF 2019
(ARISING OUT OF SLP (CIVIL) NO. 6335-6336 OF 2019)
ARISING OUT OF DIARY NO. 39424 OF 2017
CIVIL APPEAL NO. 2418-2419 OF 2019
(ARISING OUT OF SLP (CIVIL) NO. 6330-6331 OF 2019)
ARISING OUT OF DIARY NO. 39433 OF 2017
AND
CIVIL APPEAL NO. 2422-2423 OF 2019
(ARISING OUT OF SLP (CIVIL) NO. 6333-6334 OF 2019)
ARISING OUT OF DIARY NO. 39440 OF 2017
Civil Appeal Nos. 1581-1582 of 2005 a/w. Connected matters Page 1 of 22
Digitally signed by
MANISH SETHI
Date: 2019.03.01
18:43:59 IST
Reason:
Signature Not Verified
J U D G M E N T
A.K. SIKRI, J.
Leave granted. Delay condoned.
2) In all these appeals issue relates to the interpretation that is to be
accorded to the provisions of Section 80HH of the Income Tax
Act, 1961 (hereinafter referred to as the ‘Act’). Section 80HH and
other related provisions, as it existed at the relevant time, are to
be taken note of. since we are concerned with the Assessment
Years 1979-80 and 1980-81. Section 80HH provides deduction
from income at specified rates in respect of certain industrial
undertakings which are covered by the said provision. Issue is
limited, namely, while computing the deduction whether it is to be
available out of ‘income’ as computed under the Act or out of
‘profits and gains’, without deducting therefrom ‘depreciation’ and
‘investment allowance’. Language of sub-section (1) of Section
80HH will have to be seen, in order to comprehend the aforesaid
issue. It reads:
“80HH. Deduction in respect of profits and gains from
newly established industrial undertakings or hotel business
in backward areas.
(1) Where the gross total income of an assessee includes
any profits and gains derived from an industrial
undertaking, or the business of a hotel, to which this
Civil Appeal Nos. 1581-1582 of 2005 a/w. Connected matters Page 2 of 22
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