Pr. Commissioner Of Income Tax, Jaipur-Ii, Jaipur v. M/S Rajasthan Financial Corporation, Udyog Bhawan, Tilak Marg,Jaipur

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR D.B. Income Tax Appeal No. 67/2021 Pr. Commissioner Of Income Tax, Jaipur-Ii, Jaipur. ----Appellant Versus M/s Rajasthan Financial Corporation, Udyog Bhawan, Tilak Marg,Jaipur. ----Respondent For Appellant(s) : Mr. R.B. MathurMr. Nikhil SimloteFor Respondent(s): HON'BLE THE CHIEF JUSTICE MR. AKIL KURESHI HON'BLE MR. JUSTICE UMA SHANKER VYAS Order 06/12/2021 This appeal is filed by the Income Tax Department tochallenge the judgment of the Income Tax Appellate Tribunalraising the following question of law for our consideration:- “1. Whether in the facts and circumstances of the casethe ITAT has not acted perversely and was justified inholding that the assessee cannot be terms as acompany within the meaning of Section 2(18)(a) of theI.T. Act and provisions of Section 115JB are notapplicable on the assessee? So far as this court is concerned, the issue is no longer res integra. The division bench of this court in the case ofCommissioner of Income Tax, Jaipur-II, Jaipur Vs.Rajasthan Financial Corporation : D.B. Income Tax AppealNo. 593/2008 decided on 06/07/2017 has held that theprovisions of Section 115JB of the Income Tax Act, 1961 will notapply to the respondent-Corporation. Learned counsel for the department candidly brought to ournotice yet another order dated 17/11/2021 passed by the divisionbench in the case of Principal Commissioner of Income Tax,Ajmer Vs. M/s. Ajmer Vidyut Vitran Nigam Ltd. : D.B.Income Tax Appeal No.158/2019 in which referring to andrelying on the decision of the Kerala High Court in the case ofKerala State Electricity Board Vs. Deputy Commissioner ofIncome Tax reported in (2010) 329 ITR 0091 and in the caseof Bombay High Court in Commissioner of Income Tax andors. Vs. Union Bank of India and ors. reported in (2019) 308CTR 0797 (Bom), the appeal of the Income Tax Department wasdismissed. The question involved in the said case was about theapplicability of Section 115JB to the electricity company. In the result, this appeal is dismissed. (UMA SHANKER VYAS),J (AKIL KURESHI),CJ Anil Goyal/BM Gandhi-14