The Second Question Raised By The Revenue Is Squarely Covered By The Judgement Of This Court In Case Of General Motors India Petitioner. Ltd v. Tax Appeal Is Dismissed

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 1157 of 2018 ========================================================== THE PRINCIPAL COMMISSIONER OF INCOME-TAXVersusPANCHMAHAL STEEL LTD. ==========================================================Appearance:MR.VARUN K.PATEL(3802) for the PETITIONER(s) No. 1 for the RESPONDENT(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIand HONOURABLE MR.JUSTICE B.N. KARIA Date : 18/09/2018 ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Revenue has filed this appeal challenging judgement and order dated 01.02.2018. Following questions are presented for our consideration: “1.Whether in the facts and circumstances of the case, the learned ITAT has erred in law and on facts in holding that reopening of assessment u/s. 147 of Income Tax Act, 1961 is bad in law? 2.Whether in the facts and circumstances of the case, the learned ITAT has erred in law and on facts in allowing the assessee benefit of carry forward and set off of unabsorbed depreciation for the A.Y. 1997-98 against the income of A.Y. 2005-06 which was not in accordance with the provision of section 32(2) of the Act as amended by Finance Act 2001 w.e.f. 01.04.2002?” 2. The second question raised by the Revenue is squarely covered by the judgement of this Court in case of General Motors India petitioner. Ltd vs. Deputy Commissioner of Income Tax reported in 354 ITR 244. In that view of the matter, validity of reopening of the assessment becomes academic. covered by the judgement of this Court in case of General Motors India petitioner. Ltd vs. Deputy Commissioner of Income Tax reported in 354 ITR 244. In that view of the matter, validity of reopening of the assessment becomes academic. Tax Appeal is dismissed. (AKIL KURESHI, J) JYOTI V. JANI (B.N. KARIA, J)