Income Tax Appeal v. Bhima Sahakari Sakhar Karkhana Limited

Sharayu Khot. IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1054 OF 2015 The Commissioner of Income tax-6, Pune…Appellant Versus Bhima Sahakari Sakhar Karkhana Limited …Respondent ---------- Mr. Tejveer Singh, for the Appellant. ---------- CORAM :M.S. SANKLECHA &RIYAZ I. CHAGLA, JJ. DATE : 20 February 2018 ORDER : 1.This Appeal under Section 260A of the Income TaxAct, 1961 (“The Act” for short), challenges the order dated 21October 2014 passed by the Income Tax Appellate Tribunal(“The Tribunal” for short). The impugned order dated 21 1/3 October 2014 is in respect of Assessment Year 2004-05. 2.The Revenue urges the following question of law forour consideration:- Whether on the facts and in the circumstances ofthe case and in law, the Tribunal was justified inallowing the unabsorbed deprecation loss for theassessment year 1995-96 to be carried forwardand set off against future profits beyond eightyears i.e. assessment year 2004-05 holdingamendment by Finance Act, 2001 and CBDTCircular No. 14/2001 was applicableretrospectively? 3.Mr. Tejveer Singh, learned Counsel appearing forthe Revenue, very fairly states that the issue raised herein standsconcluded against the Appellant-Revenue by the decision of thisCourt in Commissioner of Income Tax Vs. Hindustan Unilever 2/3 45-ITXA-1054-15.doc Ltd.[1]. 4.In the above view, the question as proposed does notgive rise to any substantial question of law. Thus, notentertained. 5.Accordingly, the Appeal is dismissed, with no orderas to costs. [RIYAZ I. CHAGLA J.] [M.S. SANKLECHA, J.] 3/3