The Commissioner Of Income Tax, Chennai v. M/S.allsec Technologies Ltd.,Chennai-18

In the High Court of Judicature at Madras Dated : 02.9.2020 Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.375 of 2018 The Commissioner of Income Tax, Chennai ...Appellant Vs M/s.Allsec Technologies Ltd.,Chennai-18 ...Respondent APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 29.3.2017 made in ITA.No.2229/Mds/2016 on thefile of the Income Tax Appellate Tribunal, Chennai 'C' Bench forthe assessment year 2005-06, Appeal files against Income TaxAppellate Tribunal Madras ç' Bench Chennai, dated 29.03.2017passed in ITA.No.2229/mas/2016. Assessment year 2005-2006aginst The Commissioner of Income Tax Appears in ITA No.307/07-08 New no.ITA 16/c17(A)-1 2007-2008 dated 19.05.2016 PANNo.AACCA5106G. Assessment Year 2005-2006 against the AssistantCommissioner of Income Tax Company Circle-1(1), Chennai dated29/11/2007 PAN NO. /AX3-684 Assessment year 2005-2006. M/s.Subbaraya Aiyer Padmanabhan Judgment was delivered by T.S.Sivagnanam,J We have heard Mrs.R.Hemalatha, learned Senior StandingCounsel appearing for the appellant – Revenue andMr.R.Vijayaraghavan, learned counsel appearing for therespondent – assessee. 2. This appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for brevity, the Act), is directed https://hcservices.ecourts.gov.in/hcservices/ againstthetheorderdated29.3.2017madeinITA.No.2229/Mds/2016 the file of the Income Tax AppellateTribunal, Chennai 'C' Bench (for short, the Tribunal) for theassessment year 2005-06. 3. The appeal was admitted on 10.7.2018 on the followingsubstantial question of law : “Whether deduction under Section 10A ofthe Income Tax Act, 1961 may be allowedwithout reducing the brought forward lossespertaining to the year subsequent to theassessment year and setting the same offagainst gains of business in the currentyear ?” 4. The issue raised in this appeal is covered by thedecision of this Court in the case of M/s.Comstar AutomativeTechnologies Private Ltd., Vs. DCIT [TCA.No.228 of 2011 dated18.3.2020] in favour of the assessee. Further in the decision ofthis Court in the case of CIT Vs. M/s.Comstar AutomotiveTechnologies Pvt. Ltd. [TCA.No.301 of 2019 dated 06.7.2020], towhich, one of us (TSSJ) was a party, the above mentionedsubstantial question of law was decided against the Revenuefollowing the said decision in TCA. No.228 of 2011 dated18.3.2020, which judgment answered the only substantial questionof law against the Revenue. 5. Following the above decisions, the above tax case appealis dismissed and the substantial question of law is answeredagainst the Revenue. No costs. -s/d- Assistant Registrar To 2.The Commissioner of Income Tax Appeals-I Chennai Chennai 3.The Assistant Commissioner of Income Tax Company Circle 1(1) Chennai. https://hcservices.ecourts.gov.in/hcservices/ +1cc to M/s.R.hemalatha, Advocate in SR.28701 +1cc to M/s.Subbarama Iyer in SR.28854 TCA.No.375 of 2018 VSN-II(CO)RV(17/09/2020)