Ita/12/2000 Of Commissioner Of Income Tax v. M/S.bhageeratha Engineering Ltd

IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMASFRIDAY, THE 25 DAY OF JUNE 2021 / 4TH ASHADHA, 1943 ITA NO. 12 OF 2000 AGAINST THE ORDER/JUDGMENT IN ITA 645/1995 OFI.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: THE COMMISSIONER OF INCOME TAX,COCHIN. BY ADV SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) RESPONDENT/S: M/S.BHAGEERATHA ENGINEERING LTD.COCHIN. BY ADVS.SMT.P.ANITHASMT.P.ANITHASMT.R.S.GEETHASRI.T.M.SREEDHARAN SR.SMT.K.SEEMASRI.V.B.UNNIRAJ THIS INCOME TAX APPEAL HAVING COME UP FOR HEARING ON 25.06.2021,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: I.T.A. No. 12/2000 J U D G M E N T S.V. Bhatti, J. This appeal is at the instance of Commissioner of Income Tax,Cochin for the Assessment Year 1992-93. 2.The Tribunal referred to its order in I.T.A. Nos.82 and 91(Coch)/1995 dated 29.03.1995, against which reference is made inI.T.R. Nos.193 to 197/1997. It is noted that the I.T.R. Nos.193 to197/1997 have been disposed of by referring to the lead case arguedby the parties in I.T.R. 264/1997 of the same assessee for the year1986-87. By a separate judgment in I.T.R. No.264/1997 questionshave been answered in favour of assessee. The learned Counselappearing for the Department and the Assessee would state that themain question arising for consideration in I.T.R. No.264/1997 isadoption of accounting standards, treatment of deferred paymentarrangement etc. The questions of law now referred in the I.T.A. I.T.A. No. 12/2000 substantially cover the answer given by this Court on principlepoints of reference in I.T.R. No.264/1997 as well. 3.By referring to the answers given in I.T.R. No.264/1997,the applicable questions of law are answered in favour of theassessee and against the Revenue. A few other questions are notpressed, and after perusing the record, we are of the view thatquestions in fact having regard to the findings of fact recorded bythe Tribunal do not arise for our consideration. The point is answered in favour of the assessee and against theRevenue. I.T.A. No.279/2009 is dismissed. Registry shall send thecertified copy of this judgment to the Income Tax AppellateTribunal. Sd/- S.V.BHATTIJUDGESd/ BECHU KURIAN THOMAS JUDGE I.T.A. No. 12/2000 PETITIONER ANNEXURE ANNEXURE A ANNEXURE B ANNEXURE C ANNEXURE D APPENDIX OF ITA 12/2000 COPY OF THE ORDER OF THE ASSESSING OFFICER DATED 06/02/1995. COPY OF THE ORDER OF THE COMMISSIONER OF INCOMETAX (APPEALS), DATED 29/05/1995. COPY OF THE ORDER OF THE TRIBUNAL DATED 29/03/1995. COPY OF THE ORDER OF THE TRIBUNAL DATED 11/08/1999.