Principal Commissioner Of Income Tax … v. M/S Kashmir Steel Rolling Mills …

HIGH COURT OF JAMMU AND KASHMIR AT JAMMU ITA No. 05/2018 Principal Commissioner of Income Tax …..Appellant(s) Through:- Ms. Aruna Thakur, Advocate. v/s M/s Kashmir Steel Rolling Mills ….. Respondent(s) Through:- M/s Subash Dutt & D. S. Chouhan, Advocates. HON’BLE MR. JUSTICE RAJESH BINDAL, JUDGEHON’BLE MS. JUSTICE SINDHU SHARMA, JUDGE Coram : ORDER RAJESH BINDAL, J 1. The Revenue is in appeal before this court raising the following substantial questions of law, arising out of order dated 12.07.2018 passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (for short ‘the Tribunal) in ITA No. 544 (Assr)/ 2016, for the Assessment Year 2006-07: “1. Whether the Hon’ble ITAT was right in confirming the order of the Ld. CIT(A) in allowing the assessee to claim deduction u/s 80IB by filing an application u/s 154 of the Income Tax Act even though the assessee had not made any such claim for deduction in its return? 2. Whether the Hon’ble ITAT was right in allowing a claim that was not raised at the stage of assessment or reassessment? 3. Whether the Hon’ble ITAT was right in allowing the claim of the assessee ignoring the judgment of the Apex Court in the case of M/s Goetze India ltd. Vs. CIT?” 2. At the outset, learned counsel for the appellant submitted that the amount of tax involved in the present appeal being ₹ 20,37,362/-, in view of Circular No.17 of 2019 dated August 8, 2019, she does not wish to press the present appeal as the monetary limit for filing of appeals to the High Court stands increased to ₹ 1 Crore. 3. For the reasons stated above, the present appeal is dismissed. Jammu 21.08.2019 Raj Kumar (Sindhu Sharma) (Rajesh Bindal) Judge Judge Whether the order is speaking : Yes. Whether the order is reportable : Yes/No.