In The Commissioner Of Income Tax – 2, Mumbai v. Tata Industries Limited, the High Court (2010) decided the matter.
Decision: 2.Accordingly, the impugned order dated 12[th] August 2009 passed by the Tribunal in Income Tax Appeal No.4864/Mum/2008 for assessment year 2004-2005 is set aside and the appeal is restored to the file of the Tribunal for denovo consideration in accordance with law.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1653 OF 2010
The Commissioner of Income Tax – 2, Mumbai
..Appellant.
Versus
Tata Industries Limited..Respondent.
Mr.Vimal Gupta for the appellant.Mr.Dinesh Vyas, Senior Advocate with Mr.Ajit Shah and Sri Hari for the respondent.
CORAM : J.P. Devadhar & R.M. Savant, JJ.
P.C. :
DATE : 21[st] December, 2010.
1.Counsel for both the sides state that in view of the retrospective amendment to Section 115-JB by the Finance Act, 2008, the order of the Tribunal may be set aside and the appeal may be remanded back to the Tribunal for denovo consideration.
2.Accordingly, the impugned order dated 12[th] August 2009 passed by the Tribunal in Income Tax Appeal No.4864/Mum/2008 for assessment year 2004-2005 is set aside and the appeal is restored to the file of the Tribunal for denovo consideration in accordance with law. The appeal is accordingly disposed off. No costs.
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