Income-Tax Commissioner v. M/S M. Visvesvaraya Industrial Research
High Court
20 Oct 2008 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
Income-Tax Commissioner v. M/S M. Visvesvaraya Industrial Research
Date of order
20 Oct 2008
Assessment year(s)
1995-96
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In Income-Tax Commissioner v. M/S M. Visvesvaraya Industrial Research, the High Court (2008) dismissed the appeal. The decision went in favour of the assessee.
Issue: Whether in the facts and circumstances of the case and in law, the Tribunal is right in deleting the addition of Rs.
Decision: Appeal is, therefore, dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL No. 849 OF 2008.
INCOME TAX APPEAL No. 849 OF 2008.
Income-tax Commissioner .. .. Appellant.
Vs.
M/s M. Visvesvaraya Industrial Research
& Development Centre.. ..Respondent.
Mr R. A. Vaishampayan, Advocate for the Appellant.
Mr F. B. Andhyarijina with Ms Rajni Devkar i/b
Little & Co. Advocates for the Respondent.
CORAM: Dr.S. RADHAKRISHNAN
CORAM: Dr.S. RADHAKRISHNAN
AND V.C.DAGA, JJ.
AND V.C.DAGA, JJ.
DATED: 20th OCTOBER, 2008.
DATED: 20th OCTOBER, 2008.
P.C.:
P.C.:
----
----
1. Heard the learned counsel for the appellant
and the learned counsel for the respondent.
2. In the above appeal, the appellant raise two
following questions of law:
1. Whether in the facts and circumstances
of the case and in law, the Tribunal is
right in deleting the addition of Rs.
15,05,840/- on account of disallowance
of expenses of prior period adjustments
which were made on the basis of cash
basis accounting system, when the
respondent admittedly following the
mercantile system of accounting?
2. Whether in the facts and circumstances
of the case and in law, the Tribunal is
right in law holding that the Respondent
was assessable in the status of the
company when admitted as Association of
persons in the return of income?
3. We have perused the order of the Tribunal
dated 20.9.2005. The Tribunal has disposed of the
Appeal solely relying upon the same order relating to
assessment year 1995-96 with regard to both the
aforesaid questions of law. Mr Vaishayampayan very
candidly states that the appeal filed by the Revenue
with regard to the assessment year 1995-96 of the
I.T.A.T. has already been dismissed by this Court.
4. We do not find any case made out for admission
of the above appeal. Appeal is, therefore, dismissed.
(V.C. DAGA,J)
(V.C. DAGA,J)(DR S. RADHAKRISHNAN,J)
(V.C. DAGA,J)
(DR S. RADHAKRISHNAN,J)
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