Gujarat High Court
The Principal Commissioner Of Income ... vs M/S Ausom Enterprise Ltd on 5 August, 2019
Author: J.B.Pardiwala
Bench: J.B.Pardiwala, A.C. Rao
C/TAXAP/538/2019 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/TAX APPEAL NO. 538 of 2019
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THE PRINCIPAL COMMISSIONER OF INCOME TAX 1
Versus
M/S AUSOM ENTERPRISE LTD
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Appearance:
MRS MAUNA M BHATT(174) for the Appellant(s) No. 1
for the Opponent(s) No. 1
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CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALA
and
HONOURABLE MR.JUSTICE A.C. RAO
Date : 05/08/2019
ORAL ORDER
(PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) This Tax Appeal is admitted on the following substantial questions of law: "[A] Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of Rs.3,80,41,434/ made on account of disallowance of claim under section 10AA of the Act?
[B] Whether the Appellate Tribunal has erred in law and on facts in holding that interest income is eligible for deduction under section 10AA of the Act?
[C] Whether the Appellate Tribunal has failed to consider that assessee has substantial interest income of Rs.21,54,66,489/ which is far more than the deduction under section 10AA, and claiming such receipts as eligible for S.10AA is contrary to the provisions of the Act?
[D] Whether the Appellate Tribunal has erred in law and in facts in deleting the setoff of brought forward loss and depreciation?
[E] Whether the Appellate Tribunal has erred in law and on facts in not upholding the addition of Rs.3,80,41,434/ made by the Assessing Page 1 of 2 Downloaded on : Mon Aug 05 20:17:58 IST 2019 C/TAXAP/538/2019 ORDER Officer under Section 10AA of the Act to the book profit while computing the income under section 115JB of the Act?
[F] Whether the Appellate Tribunal has erred in law and on facts in not upholding the addition of Rs.4,03,453/ made under section 14A r.w. Rule 8D of the Act?
[G] Whether the Appellate Tribunal has erred in law and on facts in making a nominal disallowance without any basis and holding that disallowance under Section 14A cannot exceed exempt income?
[H] Whether the Appellate Tribunal has erred in law and on facts in not upholding the addition of Rs.4,03,453/ made by the Assessing Officer being expenses related to exempt income while computing the income under section 115JB of the Act?
(J. B. PARDIWALA, J) (A. C. RAO, J) aruna Page 2 of 2 Downloaded on : Mon Aug 05 20:17:58 IST 2019