- (1.) HEARD the learned counsel for the parties.
(2.) THE common question of law is involved in both the appeals, therefore, they were heard together and are being disposed of, by this common judgment. This Court admitted both the appeals on 29 th September, 2010, on the following substantial questions of law:- "(1) Whether in the facts and circumstances, the Tribunal was justified in holding that the assessee is entitled to claim deduction under Section 80 IB of the Income Tax Act? (2) Whether an activity of cutting of stone and manufacturing tiles out of it amounts to manufacture/production so as to attract the applicability of Section 80 IB for granting benefit of deduction to such assessee engaged in such business? (3) Whether the law laid down by their Lordships of the Hon'ble Supreme Court in the case of Arihant Tiles and Marbles : 2010 (2) SCC 699 has any application to the facts of this case and if so, whether the assessee is entitled to claim any benefit or not?"
(3.) LEARNED counsel for both the parties submitted that point involved in the present case has already been considered by co-ordinate Bench of this Court in respect of assessment year 2003-04 on the basis of judgment of Division Bench of this Court in Arihant Tiles & Marbles (P) Ltd. versus Income Tax Officer reported in (2007) 295 ITR 148 (Raj.), which has been affirmed by the Hon'ble Apex Court in the case of Income Tax Officer versus Arihant Tiles & Marbles (P) Ltd. reported in (2010) 320 ITR 79, therefore, the present appeals may be dismissed for the same reasons, which have been assigned by the Hon'ble Apex Court in Income Tax Officer versus Arihant Tiles & Marbles (P) Ltd. (supra).;