Ita/26/2009 Of The Commissioner Of Income Tax v. M/S Kurlon Ltd
High Court
14 Aug 2012 In favour of: Assessee
Forum / Bench
High Court · karnataka_bng_old
Parties
Ita/26/2009 Of The Commissioner Of Income Tax v. M/S Kurlon Ltd
Date of order
14 Aug 2012
Assessment year(s)
2003-04
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In Ita/26/2009 Of The Commissioner Of Income Tax v. M/S Kurlon Ltd, the High Court (2012) dismissed the appeal. The decision went in favour of the assessee.
Issue: However, while passing the consequential order under Section 260 of I.T Act, the AO shall comply with the observations of the Supreme Court in the cited case to find out whether the bad debt written in the books of accounts shown by the assessee in the previous years in terms of Section 36(2) of the...
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
IN THE HIGH COURT OF KARNATAKA AT BANGALORE
DATED THIS THE 14 DAY OF AUGUST 2012
PRESENT
THE HON'BLE MR. JUSTICE K.SREEDHAR RAO
AND
THE HON'BLE MR. JUSTICE B.MANOHAR
ITA No.26/2009
BETWEEN :
1 THE COMMISSIONER OF INCOME TAXC.R.BUILDING, QUEENS ROADBANGALORE.C.R.BUILDING, QUEENS ROADBANGALORE.
2 THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-11(3)C R BUILDING, QUEENS ROADBANGALORE. OF INCOME TAX, CIRCLE-11(3)C R BUILDING, QUEENS ROADBANGALORE.
...APPELLANTS
(By Sri K V ARAVIND, ADV.)
AND :
M/S KURLON LTD3RD FLOOR, NORTH BLOCKMANIPAL CENTREDICKENSON ROADBANGALORE.
...RESPONDENT
(By Dr.R B KRISHNA, ADV.)
This ITA filed u/S.260-A of I.T.Act, 1961 arising out of Order dated 29-08-2008 passed in ITA No. 293/BNG/2008, for the Assessment Year 2003-04, praying that this Hon'ble Court may be pleased to:
i. formulate the substantial questions of law stated therein,
ii. allow the appeal and set aside the order passed by the ITAT Bangalore in ITA No. 293/BNG/2008,dated 29-08-2008 confirm the orders of the Appellate Commissioner and confirm the order passed by the Assistant Commissioner of Income tax, Circle-11(3), Bangalore.
This ITA coming on for hearing this day, K.SREEDHAR RAO, J, delivered the following:
JUDGMENT
In view of the decision of the Supreme Court in Civil Appeal
No.5293/2003 in the case of TRF Limited -vs- Commissioner of Income Tax, Ranchi, the questions of law are answered against the revenue. However, while passing the consequential order under Section 260 of I.T Act, the AO shall comply with the observations of the Supreme Court in the cited case to find out whether the bad debt written in the books of accounts shown by the assessee in the previous years in terms of Section 36(2) of the IT Act.
The appeal is dismissed.
Sd/-JUDGE
bkm.
Sd/-JUDGE
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