Gujarat High Court
Commissioner Of Income Tax I vs Adani Exports Ltd....Opponent(S) on 7 October, 2014
Bench: Harsha Devani, Sonia Gokani
O/TAXAP/1146/2014 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No. 1146 of 2014
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COMMISSIONER OF INCOME TAX I....Appellant(s)
Versus
ADANI EXPORTS LTD....Opponent(s)
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Appearance:
Mr M.R BHATT Sr Advocate with Mrs. MAUNA M BHATT, Advocate for the Appellant
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CORAM: HONOURABLE Ms. JUSTICE HARSHA DEVANI
and
HONOURABLE Ms. JUSTICE SONIA GOKANI
7th October 2014
ORAL ORDER (PER : HONOURABLE Ms. JUSTICE HARSHA DEVANI)
Heard Mr. M.R Bhatt, learned senior advocate for the appellant. Admit.
The following substantial questions of law arise for our consideration : {A} "Whether the Income Tax Appellate Tribunal has substantially erred in not appreciating the Explanation (b) to Section 35D (3) clearly defining "capital employed" in the business of a company as issued share capital, debenture and long terms borrowings ?"
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O/TAXAP/1146/2014 ORDER
{B} "Whether the Income Tax Appellate Tribunal
has substantially erred in holding that since the amendment to Section 69C of the Incometax Act, 1961 has been brought in with effect from 1st April 1999 and the payment pertains to 199596, the amendment is not applicable and hence the unexplained expenses were to be allowed to the assessee ?"
{C} "Whether the Income Tax Appellate Tribunal has substantially erred in allowing the assessee's plea for not charging interest under section 234, 234B and 234C in relation to disallowance upheld on Marine Division under section 80HHC particularly when the disallowance in relation to Marine Division has been upheld by the Tribunal itself ?"
To be heard with Tax Appeal No. 1088 of 2014.
{Harsha Devani, J.} {Ms. Sonia Gokani, J.} Prakash* Page 2 of 2