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Prinicipal Commissioner Of Income Tax 4 vs M/S Hi Tech Electrothermic And ... on 26 November, 2021

Bench: Sanjiv Khanna, Bela M. Trivedi

                                                       1

      ITEM NO.34                   Court 16 (Video Conferencing)             SECTION XIV

                                   S U P R E M E C O U R T O F      I N D I A
                                           RECORD OF PROCEEDINGS

      Petition(s) for Special Leave to Appeal (C)                  No(s).   7988/2018

      (Arising out of impugned final judgment and order dated 25-07-2017
      in ITA No. 171/2017 passed by the High Court of Delhi at New Delhi)

      PRINICIPAL COMMISSIONER OF INCOME TAX 4                            Petitioner(s)

                                                      VERSUS

      M/S HI TECH ELECTROTHERMIC AND HYDROPOWER LTD                      Respondent(s)


      (IA No. 35389/2018 - EXEMPTION FROM FILING C/C OF THE IMPUGNED
      JUDGMENT)

      Date : 26-11-2021 These matters were called on for hearing today.

      CORAM :
                             HON'BLE MR. JUSTICE SANJIV KHANNA
                             HON'BLE MS. JUSTICE BELA M. TRIVEDI


      For Petitioner(s)                 Mr.   Vikramjit Banerjee, ASG
                                        Mr.   Syed Abdul Haseeb, Adv.
                                        Ms.   Diksha Rai, Adv.
                                        Mr.   Apoorv Kurup, Adv.
                                        Mr.   Adit Khorana, Adv.
                                        Mr.   Raj Bahadur Yadav, AOR

      For Respondent(s)


                              UPON hearing the counsel the Court made the following
                                                 O R D E R

Respondent(s) have been served but there is no appearance on their behalf.

In the interest of justice, re-list the matter in the second Digitally signed by Dr. Mukesh Nasa Date: 2021.11.27 13:40:43 IST Reason: week of February, 2022.

Meanwhile, we would also direct the petitioner to serve a copy of this record of proceedings on the respondent company at their registered office by registered post indicating that the special leave petition would be taken up for final hearing.

The petitioner would also file an affidavit enclosing a copy of the loan agreement, the settlement under which the loan and interest was waived and state the accounting treatment given to the principal and interest on the loan received and interest payable to IFCI Ltd. Details of depreciation claimed, and whether any credit/entry was made to the block of asset statement on waiver of the principal amount will be stated and affirmed.

(BABITA PANDEY)                                   (ANITA RANI AHUJA)
COURT MASTER (SH)                                ASSISTANT REGISTRAR