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TAXAP/153/2009 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 153 of 2009
=========================================================
GUJARAT
GAS FINANCIAL SERVICES LTD - Appellant(s)
Versus
ASSISTANT
COMMISSIONER OF INCOME TAX - Opponent(s)
=========================================================
Appearance :
MR
SN SOPARKAR, SENIOR ADVOCATE WITH MRS SWATI SOPARKAR
for Appellant(s) : 1,
None
for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE D.A.MEHTA
and
HONOURABLE
MS.JUSTICE H.N.DEVANI
Date
: 02/03/2010
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE D.A.MEHTA)
1. Heard
learned Senior Counsel appearing for Appellant-Assessee.
2. ADMIT.
3. Following
substantial questions of law arise for consideration :
[1] Whether,
on the facts and in the circumstances of the case, the Income Tax
Appellate Tribunal was justified in holding that the assessee Company
is a Financial Company within the meaning of Section 2(5B) of
the Interest Tax Act, 1974 so as to be taxable under Section 4 of
the said Act?
[2] Whether,
on the facts and in the circumstances of the case, the Income Tax
Appellate Tribunal is justified in law in coming to the conclusion
that the receipts from various activities fall within the scope of
chargeable interest as provided in Section 5 read with Sections 2(5)
and 2(7) of the Interest Tax Act,1974?
Sd/-
Sd/-
(D.A.
Mehta, J.) (H.N.Devani, J.)
M.M.BHATT
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