Supreme Court - Daily Orders
The Commissioner Of Income Tax vs M/S Reliance Industries Ltd. on 9 January, 2018
Bench: A.K. Sikri, Ashok Bhushan
1
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO(S).371/2018
(Arising out of Special Leave Petition (C) No. 1078/2018 @ SLP(C)
Diary No(s). 39351/2017)
THE COMMISSIONER OF INCOME TAX APPELLANT(s)
VERSUS
M/S RELIANCE INDUSTRIES LTD. RESPONDENT(s)
O R D E R
Delay condoned subject to payment of Rs. 10,000/- as costs to be deposited with Supreme Court Advocates-on-Record Welfare Fund.
Leave granted.
In the assessment order passed by the Assessing Officer in respect of respondent herein for the Assessment Year 2008-09, the Assessing Officer added back notional losses on account of foreign exchange fluctuations. This order was passed after the Commissioner of Income Tax exercised his jurisdiction under Section 263 of the Income Tax Act, 1961 (“the Act”) and stated that on the aforesaid count the assessee has concealed the income. The assessee challenged the said order by filing an appeal before the Income Tax Appellate Tribunal (ITAT). The assessee raised the issue of jurisdiction of the Commissioner of Income Tax under Section 263 of the Act and also challenged the addition on merits. The ITAT allowed the appeal of the assessee.
Signature Not Verified
Questioning the validity of Digitally signed by ASHWANI KUMAR Date: 2018.01.17 that order, the Income Tax Department filed appeal before the High 17:04:14 IST Reason:
Court under Section 260A of the Act. That appeal has been dismissed by the impugned order on the ground that the Revenue has not 2 challenged order of the ITAT holding that the Commissioner of Income Tax did not have jurisdiction to pass such order under Section 263 of the Act and, therefore, the appeal had been rendered infructuous.
It is submitted by the learned ASG that the assessee had taken up the ground of jurisdiction of Commissioner of Income Tax under Section 263 of the Act. However, this ground was ultimately not pressed and the ITAT did not allow the appeal on this ground but on merits. Therefore, there was no finding of ITAT that the exercise of power under Section 263 of the Act by Commissioner of Income Tax was erroneous and, thus, there was no question for challenging that aspect of the matter.
In the aforesaid circumstances, we permit the Revenue to file an application for review before the High Court and when such a review application is filed within one month from today the same shall be decided on merits.
In case the High Court decides the review application against the appellant, the appellant while challenging that order would be at liberty to challenge the impugned order as well. The appeal is disposed of accordingly.
......................J. [A.K. SIKRI] ......................J. [ASHOK BHUSHAN] NEW DELHI;
JANUARY 09, 2018.3
ITEM NO.24 COURT NO.6 SECTION IX
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(s). 39351/2017 (Arising out of impugned final judgment and order dated 03-04-2017 in ITA No. 1121/2014 passed by the High Court Of Judicature At Bombay) THE COMMISSIONER OF INCOME TAX Petitioner(s) VERSUS M/S RELIANCE INDUSTRIES LTD. Respondent(s) (FOR ADMISSION and I.R. and IA No.139939/2017-CONDONATION OF DELAY IN FILING and IA No.139941/2017-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT) Date : 09-01-2018 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. A.N.S. Nadkarni, ASG Mr. Devashish Bharuka, Adv.
Ms. Asha G. Nair, Adv.
Mrs. Anil Katiyar, AOR For Respondent(s) UPON hearing the counsel the Court made the following O R D E R Delay condoned.
The appeal is disposed of in terms of the signed order. Pending application(s), if any, stands disposed of accordingly.
(ASHWANI THAKUR) (MALA KUMARI SHARMA)
COURT MASTER COURT MASTER
(Signed order is placed on the file)