Court :
HIGH COURT OF DELHI
Brief :
The short issue involved in these appeals is: whether common expenses incurred by an assessee can be allocated towards taxable and non-taxable income under the provisions of Section 14A of the Income Tax Act, 1961 (hereinafter referred to as the „I.T. Act‟) as it stood at the relevant point in time.
It is important to note that this court has passed orders from time to time in ITA No.1367/2008, which has been virtually treated as the lead case. On perusal of the order-sheets pertaining to ITA No.1367/2008, it is found that on the very first date when the said appeal was moved i.e., 03.12.2008, it was pointed out to the Revenue that since the impugned judgment of the Tribunal was based on its own decision, rendered on the same issue, for Assessment Year 1994-1995; which was in favour of the assessee – whether the Revenue had preferred an appeal against the said decision. Since then, several adjournments for the past three years have been taken on this ground alone.
Citation :
COMMISSIONER OF INCOME TAX …APPELLANT VS.WIMCO SEEDLINGS LTD. …RESPONDENT
Subscribe to CCI PRO for unlimited access
Already a PRO member? Login here for an ad-free experience.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Shyam Joshi & Associates
Pune
B.Com
View Details
SSGS and Associates
Chennai
CA Inter
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
CAclubindia
