The Commissioner Of Income Tax vs M/S.Toja Tyres & Treads Pvt Ltd. on 19 March, 2010

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

ITA.No. 1042 of 2009()


1. THE COMMISSIONER OF INCOME TAX,COCHIN.
                      ...  Petitioner

                        Vs



1. M/S.TOJA TYRES & TREADS PVT LTD.,KALADY.
                       ...       Respondent

                For Petitioner  :SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES)

                For Respondent  :SRI.P.BALAKRISHNAN (E)

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR

 Dated :19/03/2010

 O R D E R
          C.N.RAMACHANDRAN NAIR & P.S.GOPINATHAN, JJ.
                            ---------------------------
                       I.T.Appeal No. 1042 OF 2009
                             --------------------------
                  Dated this the 19th day of March, 2010

                              J U D G M E N T

Ramachandran Nair, J.

The question raised in this appeal is whether the Tribunal was

justified in cancelling the set off of undisclosed income estimated on

protective basis against carry forward of losses. It is seen that the very

same income was assessed on a regular basis in the hands of the

assessee namely Tolin Rubbers (P) Ltd., which was cancelled in appeal

by the CIT (Appeal) in an appeal filed by the said assessee. Since

substantive additions are cancelled in the hands of the other assessee,

the Tribunal held that the assessing officer was not justified in setting off

the amount assessed on protective basis against carry forward of losses.

It is seen that in connected cases the CIT (Appeal), cancelled the

assessment made on protective basis. In any case since the addition

itself is cancelled in appeal filed against the assessee on protective basis

in the case of Tolin Rubbers (P) Ltd, we do not find any substantial

question of law arising from the order of the Tribunal.

Consequently appeal is dismissed.

C.N.RAMACHANDRAN NAIR
(JUDGE )

P.S.GOPINATHAN
(JUDGE )
vps

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