In this short order, the Madras High Court closed a writ petition challenging Accounting Standard AS-22 as unconstitutional. The court noted that the issue was covered by a Supreme Court decision but disposed of the petition by closing the file without costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 03-08-2021
CORAM
THE HONOURABLE MR. JUSTICE S.M.SUBRAMANIAM WP No.10200 of 2006 And WMP No.11548 of 2006
M/s.Sakthi Sugars Ltd., 180, Race Course Road, Coimbatore – 641 018 Represented by its Vice Chairman and Managing Director Sri M.Manickam. ... Petitioner
vs.
1.Union of India, Ministry of Law, Justice and Company Affairs, Represented by its Secretary, Government of India, Shastri Bhavan, R.P.Marg, New Delhi-110 002.
2.Union of India, Ministry of Finance, Represented by its Secretary, Department of Revenue, Central Secretariat, North Block, New Delhi – 110 001.
3.Central Board of Direct Taxes, Ministry of Finance, Central Secretariat, North Block, New Delhi – 110 001. 4.Institute of Chartered Accountants of India, Indraprastha Marg, Post Bag No.7100, New Delhi – 110 002. ... Respondents
Writ Petition is filed under Article 226 of the Constitution of India, praying for the issuance of a Writ of Declaration, declaring the Accounting Standard AS-22 issued by
the fourth respondent illegal and ultra vires Article 14, 19(1) (g) and 265 of the Constitution of India, as contrary to the provisions of the Companies Act and the Income Tax Act which are Central Enactments and hence strike down the same as illegal and ultra vires.
For Petitioner : Mr.M.P.Senthilkumar
For Respondents-1 to 3 : Mr.A.P.Srinivas, Senior Standing Counsel for
Income Tax.
For Respondent-4 : Mr.M.Arunkumar for M/s.Sampathkumar Associates.
O R D E R
Learned counsel for the petitioner submits that the issue involved in this writ petition is covered by the decision of the Hon'ble Supreme Court in the case of J.K. Synthetics vs. Union of India [297 ITR 176].
Sd/Assistant Registrar(CS VII)
//True Copy//
Sub Assistant Registrar
Svn
To
1.The Secretary,
Union of India,
Ministry of Law, Justice and Company Affairs, Government of India, Shastri Bhavan, R.P.Marg, New Delhi-110 002.
2.The Secretary, Union of India, Ministry of Finance, Department of Revenue, Central Secretariat, North Block, New Delhi – 110 001. 3.Central Board of Direct Taxes, Ministry of Finance, Central Secretariat, North Block, New Delhi – 110 001. 4.Institute of Chartered Accountants of India, Indraprastha Marg, Post Bag No.7100, New Delhi – 110 002. +1cc to Mr.G.Baskar, Advocate Sr.38220 +1cc to Mr.A.P.Srinivas, Advocate Sr.38116
WP 10200 of 2006
pch[co] srg 23/08/2021
1 issue framed by the court
Whether Accounting Standard AS-22 issued by the fourth respondent violates Article 14, 19(1)(g) and 265 of the Constitution.
Colour shows how this judgement treated each authority
J.K. Synthetics vs. Union of IndiaReferred¶18
J.K. Synthetics vs. Union of India [297 ITR 176]
M/s. Sakthi Sugars Ltd.
Union of India, Ministry of Law, Justice and Company Affairs
Union of India, Ministry of Finance
Central Board of Direct Taxes, Ministry of Finance
Institute of Chartered Accountants of India
S.M. Subramaniam
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
