This income-tax appeal filed by the Revenue was dismissed on account of low tax effect, though the substantial questions of law were left open pending clarification on tax implications.
Dismissal of appeal due to low tax effect; substantial questions of law left open.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 15.6.2020
CORAM :
THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM
AND
THE HONOURABLE MRS.JUSTICE PUSHPA SATHYANARAYANA
TAX CASE APPEAL NO.232 OF 2014
The Commissioner of Income Tax, Coimbatore ...Appellant Vs M/s.Sri Ranganathar Valves (P) Ltd., Coimbatore-25 ...Respondent
APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 18.11.2013 made in ITA.No.1684/Mds/2013 on the file of the Income Tax Appellate Tribunal, Chennai 'C' Bench for the assessment year 2010-11 and against the order dated 31-052013 made in Appeal No.126/12-13 on the file of the Income Tax (Appeals) 1, Coimbatore for the Assessment year 2010-11 and against the Assessment Order dated 05-02-2013 made in PAN AALCS5492C on the file of the Deputy Commissioner of Income Tax Company Circle 1 (3), Coimbatore for the Assessment year 2010-2011
For Appellant : Mr.T.R.Senthilkumar, SSC & Ms.K.G.Usharani, SC For Respondent : Mr.A.S.Sriraman
Judgment was delivered by T.S.Sivagnanam,J
We have heard Mr.T.R.Senthilkumar, learned Senior Standing Counsel and Ms.K.G.Usharani, learned Standing Counsel appearing for the appellant – Revenue and Mr.A.S.Sriraman, learned counsel appearing for the respondent.
“i. Whether the Tribunal was right in law in holding that the assessee is entitled to deduction under Section 80IA without setting off the losses/ unabsorbed depreciation pertaining to the windmill, which were set off in the earlier year against other business income of the assessee following the decision of this Court in 340 ITR 477 when the same is pending appeal before the Supreme Court in SLP (Civil) 1136 of 2011 ?
circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits. No costs.
Sd/-
Assistant Registrar
//True Copy//
Sub Assistant Registrar
RS
To
1.The Income Tax Appellate Tribunal, Chennai 'C' Bench.
2.The Commissioner of Income Tax(Appeals-1), Coimbatore.
3.The Deputy Commissioner of Income Tax,
Company Circle-1(3), Coimbatore.
TCA.No.232 of 2014
RLD(CO)
KKV/01/09/2020
Commissioner of Income Tax, Coimbatore
M/s. Sri Ranganathar Valves (P) Ltd.
T.S.Sivagnanam
Pushpa Sathyanarayana
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
