Rajasthan High Court - Jaipur
Pr Commissioner Of Income Tax Ajmer vs Ms Shree Cement Ltd on 21 August, 2018
Bench: Mohammad Rafiq, Goverdhan Bardhar
HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
D.B. Income Tax Appeal No. 177/2018
Pr Commissioner Of Income Tax Ajmer
----Appellant
Versus
Ms Shree Cement Ltd
----Respondent
For Appellant(s) : Mrs. Parinitoo Jain with Ms. Shiva Goyal.
HON'BLE MR. JUSTICE MOHAMMAD RAFIQ HON'BLE MR. JUSTICE GOVERDHAN BARDHAR Order 21/08/2018 Heard learned counsel for the appellant. One of the contentions raised by learned counsel for the appellant is that the judgment of this Court on which reliance has been placed by learned Income Tax Appellate Tribunal has been challenged by the Revenue by filing Special Leave Petition before the Supreme Court wherein leave has been granted and matter has been admitted.
This appeal is admitted on following substantial questions of law:
"(1) Whether on the facts and in law, the Hon'ble ITAT was justified in holding that the sales tax subsidy of Rs. 1,31,82,58,251/- in the form of Sales Tax Exemption was a capital receipt and not a revenue receipt and also not to be included in book profit under Section 115JB, ignoring the basic purpose for which the same was given which itself provides that the subsidy was given to the assessee to enhance the production, employment and the sale in the State of Rajasthan which are all post operational activities?
(2 of 2) [ITA-177/2018] (2) Whether on facts and in law, the Hon'ble ITAT was justified in holding that the electrical duty exemption of Rs. 6,57,98,024/- was a capital receipt and not a revenue receipt and also not to be included in book profit under Section 115JB, ignoring the basic purpose for which the same was given which provides that the exemption was given to the assessee to enhance the production and employment in the State of Rajasthan which are all post operational activities?"
Issue notice to respondent.
(GOVERDHAN BARDHAR),J (MOHAMMAD RAFIQ),J Manoj/49 Powered by TCPDF (www.tcpdf.org)