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Ita/107/2001 Of The Commissioner Of Income Tax, Cochin v. M/S.synthite Industrial Chemicals Ltd

High Court 22 May 2009 In favour of: Assessee

Forum / Bench

High Court · highcourtofkerala

Parties

Date of order

22 May 2009

Assessment year(s)

—

Outcome

Dismissed

Case summary

In Ita/107/2001 Of The Commissioner Of Income Tax, Cochin v. M/S.synthite Industrial Chemicals Ltd, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.

Issue: Besides all these, the question whether export incentivecomes within the scope of turnover or not is a debatable issue and so much so, rectification is not the remedy for correcting errors inassessment.

Decision: We are in agreement with the finding of the Tribunal andconsequently appeal is dismissed.

Summary auto-generated from the order below — read the full judgment for the complete reasoning.

Sections referenced in this judgment

Section 154 case law →

The order — as passed by the High Court

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 22ND MAY 2009 / 1ST JYAISHTA 1931 ITA.No. 107 of 2001() --------------------- (I.T.A. NO.441/COCH/93 OF THE INCOME TAX APPELLATE TRIBUNAL, COCHIN BENCH, COCHIN.) APPELLANT: -------------------- THE COMMISSIONER OF INCOME-TAX,COCHIN. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL,GOI(TAXES) RESPONDENT(S): --------------- M/S.SYNTHITE INDUSTRIAL CHEMICALS,AJAY VIHAR, M.G.ROAD, COCHIN-16. ADV. SRI.C.KOCHUNNY NAIR ADV. SRI.DALE P. KURIAN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 22/05/2009, THE COURT ON 22/05/2009 DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &C.K.ABDUL REHIM, JJ. ....................................................................I.T. A. No.107 of 2001 ....................................................................Dated this the 22nd day of May, 2009. JUDGMENT Ramachandran Nair, J. The question raised in the appeal filed by the Revenue is whetherthe Tribunal was justified in holding that the rectification proceedingscarried out under Section 154 by the officer is not tenable for thereason that issue involved is a debatable one. On going through theorders of the authorities below including the Tribunal and after hearingStanding Counsel for the appellant, we do not find anything wrong inthe Tribunal's order because items involved are export incentives whichare specifically excluded from the turnover by an amendmentintroduced with effect form 1.4.1991. In fact, even for the period priorto the amendment, these items were excluded from the scope ofturnover. Besides all these, the question whether export incentivecomes within the scope of turnover or not is a debatable issue and so much so, rectification is not the remedy for correcting errors inassessment. We are in agreement with the finding of the Tribunal andconsequently appeal is dismissed. C.N.RAMACHANDRAN NAIRJudge pms C.K.ABDUL REHIM Judge

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