Itta/424/2013 Of Commissioner Of Income-Tax-Iv v. Natco Pharma Limited

IN THE HIGH COURT OF JUDICATURE, ANDHRAPRADESH AT HYDERABAD WEDNESDAY, THE EIGHTEENTH DAY OFSEPTEMBER TWO THOUSAND AND THIRTEEN PRESENT THE HON’BLE THE CHIEF JUSTICESRI KALYAN JYOTI SEN GUPTA AND THE HON'BLE SRI JUSTICE K.C. BHANU I.T.T.A. No.424 OF 2013 Between: The Commissioner of Income Tax-II,Hyderabad ..... Appellant AND Satya Prasad Anagani .....Respondent The Court made the following : JUDGMENT:(per the Hon’ble the Chief Justice Sri K.J. Sengupta) This appeal is sought to be admitted in relation tothe assessment year 2007-2008 on the followingsuggested questions of law: a. Whether on the facts and in thecircumstances of the case and in law, the orderof the Tribunal is not perverse? b.Whether on the facts and in thecircumstances of the case and in law, theTribunal is correct in allowing the assessee’sclaim for interest of Rs.1,32,78,739/-? We have heard Mr. J.V. Prasad, learned counselfor the appellant and gone through the impugnedjudgment and order of the learned Tribunal. The learnedTribunal on fact found that the Assessing Officer doesnot have any basis for the addition. Moreover, it is alsonoted that the issue is covered in favour of theassessee by the decision of the learned Tribunal inassessee’s own case for the earlier assessment years.In that view of the matter, we do not find any element oflaw involved in this appeal. Accordingly, we dismiss the appeal. No order asto costs. ______________________ Kalyan Jyoti Sengupta, CJ. _____________ K.C. Bhanu, J.