Heard On Admission v. M/S T And D Coke Products

ITA 211/2017BEFORE HON’BLE THE CHIEF JUSTICE MR. AJIT SINGHHON’BLE MR. JUSTICE MANOJIT BHUYAN (Ajit Singh, CJ) Mr. Sonjay Sarma, learned Standing Counsel, Income Tax Department for thNone for the respondent. e appellant. Heard on admission. This Appeal relates to the claim of income tax exemption for the transport subsidy amount received by the assessee. The departmental authorities declared that the assessee is entitled to exemption to tax under Section 80-IB and 80-IC of the Income Tax Act and that is how, the Commissioner of Income Tax, Guwahati-I has filed this Appeal, under Section 260(A) of the Income Tax Act.During the course of hearing, it was fairly admitted on behalf of the appellant that the Supreme Court recently in Commissioner of Income Tax vs. Meghalaya Steels Ltd. (2016) 383 ITR 0217 (SC), has held that the assessee is entitled to exemption to tax under Section 80-IB and 80-IC of the Income Tax Act on account of transport subsidy and other subsidies. Therefore adjudication of this Appeal is contended to be unnecessary and the departmental lawyer fairly submits that this Appeal should be dismissed on account of the judgment rendered by the Supreme Court, in the Meghalaya Steels Ltd. (Supra). In view of the above submission made on behalf of the Income Tax Department and having regard to the ratio in Meghalaya Steels Ltd. (Supra), we order dismissal of the Appeal.