Supreme Court of India
Commissioner Of Income-Tax vs Alpine Solvex Ltd. on 9 May, 2001
Equivalent citations: (2003)181CTR(SC)21, [2003]259ITR719(SC), AIRONLINE 2001 SC 989
Bench: B.N. Kirpal, Ruma Pal, Brijesh Kumar
ORDER
1. Special leave granted.
2. Heard the learned Attorney General.
3. 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 80IA ?"
4. 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.