Gujarat High Court
Gujarat Insecticides Ltd vs Assistant Commissioner Of Income Tax on 1 February, 2010
Author: K.A.Puj
Bench: K.A.Puj
TAXAP/18/2009 1/3 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No. 18 of 2009
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GUJARAT INSECTICIDES LTD
Versus
ASSISTANT COMMISSIONER OF INCOME TAX
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Appearance :
MR MANISH J SHAH for Appellant
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CORAM : HONOURABLE MR.JUSTICE K.A.PUJ
and
HONOURABLE MR.JUSTICE RAJESH H.SHUKLA
Date : 01/02/2010
ORAL ORDER
(Per : HONOURABLE MR.JUSTICE K.A.PUJ) The Appellant assessee has filed this Tax Appeal, under Section 260A of the Income Tax Act, 1961, in respect of the block Assessment Year 20002001, proposing to formulate the following substantial questions of law for determination and consideration of this Court.
(i) Whether on the facts and circumstances of the case, the Tribunal was right in law in holding that the CIT (Appeals) had rightly enhanced in an appeal HC-NIC Page 1 of 3 Created On Thu Jun 30 02:13:59 IST 2016 TAXAP/18/2009 2/3 ORDER against Section 154 order, the Assessing Officer's rectified total income by an amount of Rs. 75,10,839/ which was the accrued interest income of past years written off as bad debt and allowed in Section 143(3) order for the Assessment Year 200001 by the Assessing Officer?
(ii) Whether on the facts and circumstances of the case, not disallowing by the Income Tax Officer in Section 143(3) order the bad debt of the past accrued interest of Rs. 75,10,839/ written off to profit and loss account was an error apparent from the record rectifiable under Section 154?
(iii) Whether on the facts and circumstances of the case, the Tribunal was right in law in holding that CIT (Appeals) was within his power in an appeal against Section 154 order of the Assessing Officer in rectifying an error apparent from the record in Section 143(3) Order of the Assessing Officer?
2 Heard Mr J.P. Shah, learned Senior Counsel with Mr. M.J.
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TAXAP/18/2009 3/3 ORDER
Shah, learned Advocate, appearing for the appellant and perused the orders passed by the authorities below. 3 We are of the view that the substantial questions of law do arise out of the order of the Tribunal and, hence, we ADMIT this Tax Appeal and formulate the above referred questions as substantial questions of law for determination and consideration of this Court. 4 Notice to the other side. Additional paper book, if any, to be filed within three months from today.
(K. A. PUJ, J.) (RAJESH H.SHUKLA, J.) pnnair HC-NIC Page 3 of 3 Created On Thu Jun 30 02:13:59 IST 2016