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TAXAP/1744/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 1744 of 2010
=========================================================
COMMISSIONER
OF INCOME TAX - I - Appellant(s)
Versus
M/S
UDYOG BHARTI - Opponent(s)
=========================================================
Appearance
:
MRS
MAUNA M BHATT for
Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI
Date
: 18/10/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
Revenue
has challenged decision of the Tribunal dated 19.3.2010 raising
following questions for our consideration :
(A)
Whether the Appellate Tribunal is right in law and on facts in
deleting the addition of Rs.34,41,441/- made on account of interest
received on investment of surplus funds in bank deposits and bonds?
(B) Whether
the Appellate Tribunal is right in law and on facts in deleting the
addition of Rs.6,45,817/- made on account of disallowance of
depreciation?
Counsel
for the Revenue submitted that insofar as question (A) is concerned,
this Court has admitted similar issue in Tax Appeal No.1791/2010.
Insofar
as question (B) is concerned, in view of decision of tribunal in case
of CIT v. Sheth Manilal Ranchhoddas Vishram Bhavan Trust
reported in 198 ITR 598, no question of law arises.
Tax
Appeal is admitted for consideration of only question(A) as
substantial question of law.
To
be heard with Tax Appeal No.1791/2010.
(Akil
Kureshi,J.)
(Ms.
Sonia Gokani,J.)
(raghu)
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