THE C.I.T. vs M/S. V.M.SALGAONKAR — C.A. No. 8794/2012

Summary The Supreme Court dismissed the Commissioner of Income Tax's appeal against M/S. V.M. Salgaonkar and Bros. Pvt. Ltd. on September 21, 2017. The Court found no legal dispute regarding Section 80HHC of the Income Tax Act, 1961, but noted the Assessing Officer had made an erroneous computation that was correctly rectified by the Income Tax Appellate Tribunal and upheld by the High Court. After verifying the assessee's calculations complied strictly with Section 80HHC as interpreted in IPCA Laboratory Ltd.'s case, the Court found the appeals devoid of merit and dismissed them accordingly. This case analysis is maintained by casestatus.in based on publicly available court records.