Bombay High Court
Lic Housing Finance Limited vs Dcit, Circle 2 (2) on 19 November, 2018
Bench: Akil Kureshi, M.S. Sanklecha
9. itxa 421-16.doc
R.M. AMBERKAR
(Private Secretary)
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
O.O.C.J.
INCOME TAX APPEAL (IT) NO. 421 OF 2016
M/s. LIC Housing Finance Limited .. Appellant
Versus
DCIT, Circle 2(2) .. Respondent
...................
Mr. Sanjiv M. Shah for the Appellant
Mr. Suresh Kumar for the Respondent
...................
CORAM : AKIL KURESHI &
M.S. SANKLECHA, JJ.
DATE : NOVEMBER 19, 2018.
P.C.:
1. The Income Tax Appeal is admitted for consideration of following substantial questions of law:-
"(i). Whether on the facts and circumstances of the case and in law, the Tribunal is correct in sustaining addition Rs. 71,65,00,000/- on account of alleged excess claim under Section 36(1)(vii)?
(iii) Whether on the facts and circumstances of the case and in law, the Tribunal is right in not consequently directing respondent to exclude Rs. 20.48 crores already assessed in Assessment year 2004-05 by virtue of approval of respondent's order by Tribunal thereby resulting in double taxation?
1 of 2 ::: Uploaded on - 21/11/2018 ::: Downloaded on - 23/11/2018 00:19:58 :::
9. itxa 421-16.doc
(iii) Whether on the facts and circumstances of the case and in law, the Tribunal is justified in restoring issue of Section 41(4A) to file of respondent to verify if amounts withdrawn from reserve are offered to tax under Section 41(4A) when admittedly these amounts pertain to reserves created up to Assessment Year 1997-98 whereas said section came into operation w.e.f. Assessment Year 1998-99?"
2. Mr. Suresh Kumar waves service.
3. To be heard along with Income Tax Appeal No. 422 of 2016.
[ M.S. SANKLECHA, J. ] [ AKIL KURESHI, J ] 2 of 2 ::: Uploaded on - 21/11/2018 ::: Downloaded on - 23/11/2018 00:19:58 :::