Talbro Forgings v. Commissioner Of Income Taxjalandhar

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. --- Income Tax Appeal No. 172 of 2011Date of decision: 19.7.2011 Talbro Forgings through its partner Arun Talwar --- Appellant Versus Commissioner of Income TaxJalandhar CORAM:HON’BLE MR. JUSTICE ADARSH KUMAR GOELACTING CHIEF JUSTICE HON’BLE MR. JUSTICE AJAY KUMAR MITTAL --- Present:Mr. Rishabh Kapoor, Advocatefor the appellant. --- AJAY KUMAR MITTAL, J. This appeal under Section 260A of the Income-Tax Act,1961 (for short “the Act”) has been filed by the assessee against theorder dated 25.9.2009, passed by the Income Tax Appellate TribunalAmritsar Bench, Amritsar (in short “the Tribunal”) in ITA No.36/ASR/2009, relating to the assessment year 2004-05. 2.The following substantial questions of law have beenclaimed for determination of this Court: “(a) Whether on the true and correct interpretation of theprovisions of Section 80HHC read with 80-IA (9) readwith 80-IB (13) the Tribunal has erred in restricting theclaim of deductions under the Act? (b) Whether interest u/s 234B is mandatory in nature andlevy of the same is permissible on the income, thetaxability of which is under dispute and which could notbe anticipated prior in time?” 3. We have heard learned counsel for the appellant andperuse the record. 4. Learned counsel for the appellant-assessee very fairlyconceded that the aforesaid questions are covered against theassessee by the decision of this Court dated 20.05.2011 in ITA No.121 of 2011 Vishal Tools & Forgings Private Limited vs.Commissioner of Income Tax, Jalandhar (Punjab)and in the case ofthe present assessee itself, i.e. Income Tax Appeal Nos. 137 and138 of 2011, decided on 27.5.2011 (Talbro Forgings vs.Commissioner of Income Tax, Jalandhar). In the said cases, theappeals preferred by the assessee had been dismissed. 5.In view of the above, the appeal is dismissed. (AJAY KUMAR MITTAL) JUDGE (ADARSH KUMAR GOEL) ACTING CHIEF JUSTICE *rkmalik*