Dismissed

Commissioner of Income v. M/S.Intex

Madras HC14 Jun 2016TCA/398/2016

Case brief

AI extract

What is this about?

The High Court of Judicature at Madras disposed of Tax Case Appeal No.398 of 2016 by dismissing the appeal as withdrawn. The court left the two substantial questions of law regarding taxability of carbon credit receipts and deduction under section 80IA open. The third issue regarding pending Supreme Court judgment was noted but did not alter the disposition.

What did the court decide?

Tax Case Appeal No.398 of 2016 dismissed as withdrawn; substantial questions of law No.1 and No.2 left open.

Commissioner of Income Vs M/S.Intex — Specific Performance | Madras HC (2016)

¶1

IN THE HIGH COURT OF JUDICATURE AT MADRAS

¶2

Dated: 14.06.2016

¶3

The Honourable Mr.Justice S.Manikumar and The Honourable Mr.Justice D.Krishnakumar

¶4

Tax Case Appeal No.398 of 2016

¶5

Commissioner of Income Tax, Trichy ... Appellant

¶6

¶7

M/s.INTEX, 16-D, Coimbatore Road, Karur - 639 001 ... Respondent

¶8

Prayer : Appeal filed against the order of the Income Tax Appellate Tribunal, Madras 'B' Bench, Chennai dated 30.01.2015 in ITA No.147/Mds/2014 (Assessment Year 2010-11) against the order passed by the Commissioner of Income Tax (Appeals) Trichirappalli, dated 23/10/2013 in ITA 173/2012-13/CIT)(A)/TRY and against the order passed by the Assistant Commissioner of Income Tax, Circle-II, Trichy, in PAN/GIR No.AAAFI1075M dated 31/11/13 for the Assessment Year 2010-11.

¶9

(Judgment of the Court was made by S.Manikumar,J)

¶10

This Appeal has been filed against the order of the Income Tax Appellate Tribunal, 'B' Bench, Madras, dated 30.01.2015 for the assessment year 2010-11.

¶11

The substantial questions of law raised in the instant appeal are:-

¶12

“1. Whether on the facts and in the

¶13

circumstances of the case the tribunal was right in holding that receipts from sale of carbon credits are to be treated as capital receipt not assessable to tax?

¶14

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

¶15

Whether on the facts and in the circumstances of the case the tribunal was right in holding that the receipts from the sale of carbon credits are entitled for deduction under section 80IA with respect to the wind mill division?

¶16

Whether on the facts and in the circumstances of the case the tribunal was right in holding that assesse is entitled for deduction under Section 80IA with respect to the wind mill division by following the decision of the Madras High Court in the case of Velayuthswamy Spinning Mills?”

¶17

In so far as Substantial Question No.3 is concerned, decision in Velayuthaswamy Spinning Mills case is stated to be pending on the file of the Hon'ble Apex Court and therefore, the same cannot be adjudged here.

¶18

However, not withstanding the above, Mr.J.Narayanasamy, learned Senior Standing Counsel for Income Tax submitted that the monetary limit in the instant tax appeal falls within the ambit of the Circular bearing No.21 of 2015, dated 10.12.2015. He further submitted that there is no audit objection.

¶19

In the light of the above, Mr.J.Narayanasamy, learned Senior Standing Counsel for Income Tax seeks permission to withdraw, Tax Case Appeal No.398 of 2016, subject of course the substantial questions of law Nos.1 and 2 be left open.

¶20

Placing on record the above submissions, the instant Tax Case Appeal No.398 of 2016, is dismissed as withdrawn, leaving substantial questions of law Nos.1 and 2, open. No costs.

¶21

Sd/-

¶22

Assistant Registrar(CS II)

¶23

//True Copy//

¶24

Sub Assistant Registrar

¶25

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

¶26

To
1.The Commissioner of Income Tax,
Trichy.
2.The Income Tax Appellate Tribunal,
Madras 'B' Bench,
Chennai.
3.The Commissioner of Income Tax (Appeals),
Trichirappalli.
4.The Assistant Commissioner of Income Tax,
Circle-II,
Trichy.
+1cc to Mr.J.Narayanasamy, Advocate sr.32719
Tax Case Appeal No.398 of 2016
ca[co]
srg 29/06/2016

¶27

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

Commissioner of Income v. M/S.Intex

Case brief

What is this about?

What did the court decide?

Commissioner of Income v. M/S.Intex

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Commissioner of Central Excise Vs Customs Excise and Service

Commissioner of Income Tax Vs M/S.M.R.M.Plantations Pvt.

The Commissioner of Income Tax Vs Smt. M.A. Jananilakshmi

Mettupalayam Vivasayigal Vs State Rep. by its Principal

The Asst. Director of Income Vs the Institute of Development

The Commissioner of Income Vs P. Vimalan