Dismissed

Commissioner of Income Tax v. M/S Sm Scrap Recycling Pvt.

Madras HC15 Jul 2014TCA/875/2013

Case brief

AI extract

What is this about?

The High Court of Judicature at Madras dismissed an income tax appeal filed by the Commissioner of Income Tax against the Income Tax Appellate Tribunal. The Court held that the assessee is entitled to the deduction under Section 10-B despite the failure to file the mandatory audit report with the return of income.

What did the court decide?

The appeal filed by the Commissioner of Income Tax under Section 260-A of the Income Tax Act is dismissed.

Commissioner of Income Tax Vs M/S Sm Scrap Recycling Pvt. — Income Tax | Madras HC (2014)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATE : 15.07.2014

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CORAM

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THE HONOURABLE MR. JUSTICE R.SUDHAKAR

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AND

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THE HONOURABLE MR. JUSTICE G.M.AKBAR ALI

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T.C. (A) NO. 875 OF 2013

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The Commissioner of Income Tax Coimbatore. ...Appellant/Respondent

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Vs -

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M/s.SM Scrap Recycling Pvt. Ltd. No.425, Mettupalayam Road Coimbatore 641 043. ...Respondent/Appellant

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Appeal preferred u/s 260-A of the Income Tax Act against the order of the Income Tax Appellate Tribunal, Madras 'B' Bench, dated 03.04.2013 in ITA No.2109/Mds/2011 for the assessment years 2005-2006 and against the order of the Commissioner of Income Tax (Appeals) in ITA No.272/2010-2011 dated 12.10.2011 for the assessment year 20052006 and against the Assessment order under Sec.143 (3) read with Section 147 of the Income Tax Act passed by Deputy Commissioner of Income Tax, Company Circle - IG1, Coimbatore, dated 30.12.2010 for the assessment year 2005 - 2006.

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JUDGMENT

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(DELIVERED BY R.SUDHAKAR, J.)

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In this appeal, the following question of law has been raised for consideration:-

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“Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the assessee is entitled for deduction under Section 10-B even though the assessee did not file the audit report in the prescribed form along with the return of income, as required under that section.”

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It is fairly submitted by the learned standing counsel for the appellant that the issue involved in this appeal is covered by a decision of this Court reported in CIT – Vs – Print System & Products (2006 (285) ITR 260) (Mad) in favour of the assessee, which stand has

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https://hcservices.ecourts.gov.in/hcservices/

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been reiterated in T.C. (A) No.156 of 2007 dated 23.7.13.

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Following the above said decisions, we are inclined to dismiss this appeal. Accordingly, this appeal is dismissed.

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Sd/Assistant Registrar(J) Dated: 23.07.2014

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//True Copy//
Sub Assistant Registrar
GLN
To
1. The Income Tax Appellate Tribunal
Madras 'B' Bench, Chennai.
2. Commissioner of Income Tax (Appeals-I)
Coimbatore.
3. The Dy. Commissioner of Income Tax
Company Circle-I (2), Coimbatore.
1 CC to Mr.N.V.Balaji, Advocate SR.No. 30921
T.C. (A) NO. 875 OF 2013
BVR(CO)
PSI (24.07.2014)

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https://hcservices.ecourts.gov.in/hcservices/

Commissioner of Income Tax v. M/S Sm Scrap Recycling Pvt.

Case brief

What is this about?

What did the court decide?

Commissioner of Income Tax v. M/S Sm Scrap Recycling Pvt.

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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