The Commissioner Of Income Tax vs Torrent Pharmaceuticals Ltd ... on 7 January, 2008

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Gujarat High Court

The Commissioner Of Income Tax vs Torrent Pharmaceuticals Ltd ... on 7 January, 2008

Bench: J.C.Upadhyaya

         TAXAP/787/2007                              1/3                                             ORDER



                     IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                                   TAX APPEAL No. 787 of 2007


         ======================================
                 THE COMMISSIONER OF INCOME TAX  Appellant(s)
                                     Versus
                  TORRENT PHARMACEUTICALS LTD  Opponent(s)
         ====================================== 
         Appearance :
         MR MANISH R BHATT for Appellant(s) : 1,
         None for Opponent(s) : 1,
         ======================================


                     CORAM :  HONOURABLE THE CHIEF JUSTICE Y.R.MEENA
                                  and
                                  HONOURABLE MR.JUSTICE J.C.UPADHYAYA

                                        Date : 07/01/2008 


                                            ORAL ORDER

Following questions are proposed for admission of this appeal : "(A) Whether the Appellate Tribunal is right in law and on facts in upholding the order passed by CIT(A) and deleting the addition of Rs.30,09,847/ made on account of Corporate Advertisement Expenses which according to the view of the Assessing Officer, gave an enduring benefit to the assessee?

(B) Whether the Appellate Tribunal is right in law and on facts in upholding the order passed by the CIT(A) in deleting the addition of Rs.7,83,87,877/ out of 'Selling, Publicity and Medical Literature', which according to the Assessing Officer gave an enduring benefit to the HC-NIC Page 1 of 3 Created On Tue Jun 28 00:05:18 IST 2016 TAXAP/787/2007 2/3 ORDER assessee to protect the image of "Torrent Group" and for launching new product?

(C ) Whether the Appellate Tribunal is right in law and on facts in upholding the order passed by the CIT(A) in deleting the addition of Rs.2,97,65,150/ out of interest paid on nonconvertible portion of debentures, which according to the Assessing Officer gave an enduring benefit to the assessee?

(D) Whether the Appellate Tribunal is right in law and on facts in upholding the order passed by the CIT(A) in deleting the addition of Rs.10,72,83,460/ made in respect of "Market Development Expenses?"

Learned counsel for the appellant fairly submits that similar questions were raised in the case of this very assessee in the earlier assessment year, but appeal was admitted in terms of question No. (C ), which reads as under : (C ) Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT(A) in deleting the disallowance of Rs.5,44,23,397/ made by the Assessing Officer in respect of interest paid on non convertible debenture portion of public issue?

Appeal is admitted only in terms of question No. (C ) as under : (C ) Whether the Appellate Tribunal is right in law and on facts in upholding the order passed by the CIT(A) in deleting the addition of Rs.2,97,65,150/ out of interest paid on nonconvertible portion of debentures, which according to the Assessing Officer gave an enduring benefit to the assessee?




HC-NIC                                        Page 2 of 3     Created On Tue Jun 28 00:05:18 IST 2016
          TAXAP/787/2007                        3/3                                             ORDER

Issue notice to the other side. Paper book be filed within three months. List the appeal for final hearing after three months.

( Y. R. MEENA, C.J.) ( J .C. UPADHYAYA, J. ) *Pansala.

HC-NIC Page 3 of 3 Created On Tue Jun 28 00:05:18 IST 2016

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