The Commissioner Of Income Taxtrichy v. Trichy Steel Rolling Mills Ltdpost Box

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 04.06.2025 CORAM : THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE SUNDER MOHAN TCA No. 295 of 2016 The Commissioner of Income TaxTrichy. .. Appellant Vs Trichy Steel Rolling Mills LtdPost Box No.603SenthannipuramTrichy – 639 002... Respondent Prayer: Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal Madras “C” Bench, dated 22.5.2015 in ITA.No.834/Mds/2014. For Appellant(s):Mr.J.Narayanaswamy, Sr.Standing Counsel For Respondent(s): Mr.A.S.Sriraman JUDGMENT (Delivered by the Hon'ble Chief Justice) We are not inclined to interfere with the order of the Income Tax __________ Page 1 of 4 TCA No.295 of 2016 Appellate Tribunal (ITAT) that is impugned in this appeal. The ITAT has only directed the Assessing Officer to ascertain whether the entire amount of Rs.6.42 Crore represents only loan creditors. 2. Mr.Narayanaswamy says that he would have been happy if the ITAT had only remanded the matter to ascertain the same, but the ITAT has also given a finding that if the entire amount is pertaining to sundry creditors, then it cannot be subject to income tax. 3. As the Assessing Officer is yet to ascertain, we keep all rights and contentions open. Appeal is disposed of accordingly. There shall be no order as to costs. (K.R.SHRIRAM, CJ.) (SUNDER MOHAN, J.) 04.06.2025 Index : Yes/NoNeutral Citation:Yes/Nosasi __________ Page 2 of 4 1. The Assistant Registrar Income Tax Appellate Tribunal Chennai Benches, Chennai. Income Tax Appellate Tribunal Chennai Benches, Chennai. 2. The Commissioner of Income Tax (Appeals) No.44, Williams Road, Cantonment Tiruchirapalli – 620 001. No.44, Williams Road, Cantonment Tiruchirapalli – 620 001. 3. The Assistant Commissioner of Income Tax Circle-I(1), Tiruchirapalli. Circle-I(1), Tiruchirapalli. __________ Page 3 of 4 __________ Page 4 of 4 TCA No.295 of 2016 THE HON'BLE CHIEF JUSTICE ANDSUNDER MOHAN,J. (sasi) TCA No. 295 of 2016 04.06.2025