Indian Kanoon - Search engine for Indian Law

Supreme Court - Daily Orders

Brawn Pharmaceuticals Ltd vs Commissioner Of Income Tax 1 on 10 January, 2018

Bench: A.K. Sikri, Ashok Bhushan

     ITEM NO.13                                COURT NO.6                    SECTION XIV

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

     SPECIAL LEAVE PETITION (CIVIL) Diary No. 40476/2017

     (Arising out of impugned final judgment and order dated 08-09-2017
     in RP No. 297/2017 and 04-05-2017 in ITA No. 926/2015 passed by the
     High Court of Delhi at New Delhi)

     BRAWN PHARMACEUTICALS LTD                                                Petitioner(s)

                                                      VERSUS

     COMMISSIONER OF INCOME TAX 1                                             Respondent(s)

     (With IA No.140521/2017-CONDONATION OF DELAY IN FILING)

     Date : 10-01-2018 This petition was called on for hearing today.

     CORAM :
                            HON'BLE MR. JUSTICE A.K. SIKRI
                            HON'BLE MR. JUSTICE ASHOK BHUSHAN

     For Petitioner(s)
                                         Mr. Avadh Bihari Kaushik, AOR
                                         Mr. Devashish Maharishi, Adv.
                                         Ms. Garima Gupta, Adv.

     For Respondent(s)


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

It is contended by the petitioner that the High Court has allowed the appeal of the Income Tax Department only on the ground that provisions of Section 32(1)(iii) of the Income Tax Act are not applicable and that even if that opinion of the High Court is correct, the High Court has not examined the nomenclature of the expense or the nature of the transaction. As per him, there was actual loss and, therefore, there was no option but to write off the debt.

Delay condoned.

10:44:58 IST Issue notice, returnable in six weeks.

                             (NIDHI AHUJA)                     (MALA KUMARI SHARMA)
                             COURT MASTER                          COURT MASTER