Gujarat High Court Case Information System
Print
TAXAP/393/2008 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No.393 of 2008
==========================================================
THE
COMMISSIONER OF INCOME TAX-I, - Appellant
Versus
ALEMBIC
GLASS INDUSTRIES LTD. - Opponent
==========================================================
Appearance :
MRS
MAUNA M BHATT\MR MANISH R BHATT for
Appellant.
None
for
Opponent.
==========================================================
CORAM
:
HONOURABLE
MR. JUSTICE K.A.PUJ
and
HONOURABLE
MR. JUSTICE BANKIM.N.MEHTA
Date
: 11/08/2008
ORAL
ORDER
(Per
: HONOURABLE MR. JUSTICE K.A.PUJ)
Heard
Mrs. Mauna M. Bhatt, learned Standing Counsel appearing for the
Revenue.
2. The
Revenue has filed this Tax Appeal under Section 260A of the Income
Tax Act, 1961 for assessment year 1998-99 proposing to formulate the
following substantial questions of law for determination and
consideration of this Court:
?S[A] Whether,
on the facts and in the circumstances of the case, the Appellate
Tribunal was right in law in allowing deduction to the extent of
actual payment to the ONGC, when the whole contractual liability was
in dispute before the Hon’ble Supreme Court?
[B] Whether,
on the facts and in the circumstances of the case, the Appellate
Tribunal was right in law in allowing inflated claim of depreciation
on revalued assets without appreciating that such revaluation was
made arbitrarily, as a colourable device to reduce book profit for
the purpose of Section 115JA(2) and thus was not in conformity with
this provision read with the provisions of the Companies Act???
3. So far as
Question [B] is concerned, we have already dismissed Tax Appeal
No.391 of 2008 wherein a similar question was involved. Hence, this
Tax Appeal is admitted in terms of Question [A] only.
4. Notice to other
side. Additional Paper-Book, if any, be filed within three months
from today. To be heard with Tax Appeal Nos.1097/2006, 786/2007, 389
of 2008 and 390 of 2008.
[K.A.
Puj, J.]
[Bankim
N. Mehta, J.]
Rajendra
Top