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Utility Supply Private Limited,Mumbai vs Dcit Central Circle 8(4) Mumbai, Mumbai on 3 April, 2025 cites

Commissioner Of Income Tax, Jabalpur vs M/S. S. Goyanka Lime And Chemicals Ltd. on 23 March, 2015

In the case of Goenka Diamonds & Jewellers Ltd. (supra), the Tribunal, after examining the provisions of Section 10AA of the Act vis-à-vis the SEZ Act and rules framed thereunder, had concluded that since the definition of 'services' under the SEZ Act also includes trading activity, the activity relating to import of diamonds for re- export would qualify for deduction under Section 10AA of the Act. The aforesaid decision of the Tribunal was upheld by the Hon'ble Rajasthan High Court while discussing a batch of appeals filed by the Revenue against the decision of the Tribunal. The judgment of the Hon'ble Rajasthan High Court was delivered on 24.08.2017 in Income Tax Appeal no. 222 of 2012 and others. It is relevant to observe, in the aforesaid case also, the assessee had its unit in Surat SEZ. Similar view was again expressed by the Mumbai Bench of the Tribunal in the case of the same assessee in ITA No. 153/JP/2014 and 216/JP/2014 dated 10.01.2018. The other decisions cited by the learned AR also express similar view. Therefore, consistent with the view taken by the different Benches of the Tribunal, we are of the view that assessee is eligible to claim deduction under Section 10AA of the Act, since, the activity of import of Solitaire Diamond Exports diamonds for re-exporting comes within the nature of 'services' as provided under Section Section 10AA of the Act."
Supreme Court - Daily Orders Cites 0 - Cited by 133 - Full Document
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