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Karnataka High Court

M/S Jindal Aluminium Ltd., vs The Asst Commissioner Of Income-Tax on 21 February, 2011

Bench: N.Kumar, Ravi Malimath

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£3;:a44¥\:;§2iL;:*§% 560 (30 1 . ,..RE}SPQNI}EZ-N'I"' 2 {'£33; Are.-:v'iI':<i ;;mr:.i Sri, '§\f§'.i-='. E:3<:s;§'.:e:r.::%?;2;1.ia,, Tu) These 1"3"'As are fiieci u.1':cier S€(f?i'i(3I'1 260A of I.T.ACE.. 1981 a;fi.si.ng (but of order ciated f£{O.£)8.201{) pe1.s-ssed in E'F£3s. E\I:3,2£36 é§z 23?/E33a:'1g;'f2;O1O. for the As-:¢5é3.&§4s1?(1€131"

ytzarss 200263 and f2()£}5§--O5, pra.yiz'1g tihaii t'.}§i$ E~=§i.;z:'1"":.>1e Court 11131}? be pleased to fczrlirmiatéz 'élhfi I'AE§i,::«'£js€._211'£.§'_;iEx} qL1c>st:i(}ns; C)f}21WSfI21ii€'.d t;11erei11. " " 'A ' "

'1'hc?:55e ETAS (:c:>m.i1.'1g on jfor _Ad:11'i;3§fiQ;1_ "i;hi.g;M(T1_z1§". N.KU1.\€I.AR,J . cieijvereci t.h<3 f(5E.1<)*Wi.2'1§§iiT ' A' ~ JUDG;1§;k§;ENT"' A These appealss (if1a}i'éi1gi11g the order passed by the 9l*i'j1j:1'zL12?§j_,:'V \x{i%§iaéf1»..}i;;_s held that. the pmvisi0n_himI;;i£:t1€:d._ '1;_1i1<f1c':: Secticm 80iA(9)¢ The?

1.'e3iri(?i:io11 c_:2ai1$f::._ "u:1j"c1<:r Se(:t1'on 801A(9) makes it éibtiiicieiiiéiy firictai" Ai,?rj1.»zzi:...~7wiJca::'ev'cr cied1.1c:t'1'oI1s un(ie'r any <)t.'t1{e.r L'Sec:i'.i(.:£n=.. Clairnedg the c0mpm',.21i:i0:1 W11} be V' «sLi1)};<:%€:i{.' 1_:'0'=._i:h<:* rr3st:ri.(:tio11 Iaici dc>wr1 :.1nde'r Secjttion 'V80Li3{9}-.a_ * 'E.T1ir_.{:. relief' m"1c;i€::* Sectimz SOIA shcmid be "ci<:éciuc2i;é:ci j~i}"§3n1 thé-.2 profit: and g21i:.'15 from the 1:>1,:1s5_i.r1.e:+ss §:><%u§1:31"<% ;jai:?1§;:>:.z1.i:':g 'i'3'1.£'. §'{'"E1.i€;',f :.11"z<fcr' $€f3{"iii..i(}E'1 §.%{)HHC 0? thszi . Z I £2/'"

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2. '.IT'his Ci{':a1..:ri: in E.'.I'.A.N<).:+;.Ei'74 of 2007 anti ot'1:1<:%r {2£)i"1§'1€'{L'Iié;?("} {'7€7£S€.'S has E'1.«<:»3.1{:i i:.h.ai' {.119 dc:c:ET1,_.zE':€;i<}1'1.s Lmciera" S::3<%i,1'.<m. ESOIA 21..1'1<i Sf:}?Ci'i()I} 801%-{C 2_2;:'é€r' «';1.A§i~y excth.:si\.=*e. '1'h::?. re:2;£ri{:t:io:1 C0r1t,21inec._i. ~ -1».:.1j1fr:1_cz*'-,}$-3¢:(:i;i<f5;':_.. '' 801949) oniy IT1€8..I'"1fS the <:3edi:;_c:t:i(>1'% A. flg;i*.*r{:~.i'1. $2;-.}'1'<'swi,1'1gj =:t,§1:?}t. exceed the 1':.ot.:>11 pxxafiis 'c1i3:€ 1'§.:{§1i1'15£%"

it is hekd thai; whiie (?(.)II1p'I,1%{{::'lTIV;£k§V'§:"i,}T}€3 Sectiorl SOHHC of £1116 Aei.;-«..'..Vi1'I'::é 2 C1E?CiLl(3{'.i()1'1 uncier Secmm SOIA £1.11 the urns of £'.()1'1}pL1'{i£1§i'()?;.%1 but. it Iiable to be and gains.
I;:: aJ;)0ve orcier, the (:a'r<1e:r passed by'5:.hc°'!'ribu1é'a1_;;§;mn(>t: be s'L.tst21i11.ed. H::>nc:e§ we ~ j::1:e%m:1:;wm;g:=_ "flu: Elppfia} is; aikzuwed. '.F.h::=.
_ ifij ;::1.:g1:1:s::il <;>r<ier pzissed by iht? Tribagmai is ::e<;:-ft £:.s2a.ic:T1e. We-:2 Fzrzzrid i;hat. ihfi &'1Si~;%f;?SS€€3i . _V _HE<'1_1_:'1"1'.i:YV1Ae:".% V' 1 is tgméiéizled {(3 {he ':}(=:z1<:s'f'"it'. both u.m?1€:'r Secmbcms 801A and 80}-If-£(3."

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