Ita/279/2009 Of Commissioner Of Income Tax v. M/S Bhageeratha Engineering Ltd

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMASMONDAY, THE 5 DAY OF JULY 2021 / 14TH ASHADHA, 1943 ITA NO. 279 OF 2009 AGAINST THE ORDER/JUDGMENT IN ITA 439/1999 OFI.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: COMMISSIONER OF INCOME TAX,COCHIN. BY ADVS.SRI.JOSE JOSEPH, SC, FOR INCOME TAXSRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT RESPONDENT/S: M/S BHAGEERATHA ENGINEERING LTD.,132, PANAMPILLY AVENUE, COCHIN-682 036. BY ADVS.SMT.P.ANITHASMT.P.ANITHASMT.R.S.GEETHASRI.T.M.SREEDHARAN SR.SRI.V.B.UNNIRAJ OTHER PRESENT: SR ADV. T SREEDHARAN THIS INCOME TAX APPEAL HAVING COME UP FOR HEARING ON 05.07.2021,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 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 1993-94. 2. The I.T.A. has been listed for hearing along with I.T.R. No.264/1997 of the same assessee for the year 1986-87. By a separate judgment I.T.R. No.264/1997 questions have beenanswered in favour of assessee. The learned Counsel appearingfor the Department and the Assessee would state that the mainquestion in I.T.R. No.264/1997 is adoption of accountingstandards, treatment of deferred payment arrangement etc.The questions of law now referred in the I.T.A. substantiallycover the answer given by this Court on principle points ofreference in I.T.R. No.264/1997 as well. I.T.A. No.279/2009 -3- 3.By referring to the answers given in I.T.R.No.264/1997, the applicable questions of law are answered infavour of the assessee and against the Revenue. A few otherquestions are not pressed and after perusing the record, we areof the view that these questions in fact having regard to thefindings of fact recorded by the Tribunal do not arise for ourconsideration. The point is answered in favour of the assessee and againstthe Revenue. I.T.A. No.279/2009 is dismissed. Registry shallsend the certified copy of this judgment to the Income TaxAppellate Tribunal. Sd/-S.V.BHATTIJUDGE Sd/- BECHU KURIAN THOMASJUDGE I.T.A. No.279/2009 PETITIONER ANNEXURE ANNEXURE A ANNEXURE B ANNEXURE C APPENDIX OF ITA 279/2009 COPY OF ORIGINAL ASSESSMENT ORDER U/S.143(3) DATED 21/03/1996 ISSUED BY THE ASSESSING OFFICER FOR THE ASST. YEAR 1993-94. COPY OF THE ORDER DATED 01/07/1999 OF THE COMMISSIONER OF INCOME TAX (APPEALS). COPY OF THE ORDER DATED 30/06/2003 OF THE INCOME TAX APPELLATE TRIBUNAL IN ITA NO.439/COCH/99 ANDITA NO.444/OCH/99