Punjab-Haryana High Court
Commissioner Of Income Tax Ii vs M/S Hero Cycles Limited on 23 July, 2010
Author: Adarsh Kumar Goel
Bench: Adarsh Kumar Goel, Rajesh Bindal
IN THE HIGH COURT OF PUNJAB AND HARYANA AT
CHANDIGARH.
ITA No.157 of 2010
Date of decision: 23.7.2010
Commissioner of Income Tax II, Ludhiana
-----Appellant
Vs.
M/s Hero Cycles Limited, Ludhiana
----Respondent
CORAM:- HON'BLE MR JUSTICE ADARSH KUMAR GOEL
HON'BLE MR. JUSTICE RAJESH BINDAL
Present:- Mr. Vivek Sethi, Advocate for the revenue.
Adarsh Kumar Goel,J.
This appeal has been filed by the revenue under section 260A of the Income Tax Act, 1961 against order dated 20.2.2009 passed by the Income Tax Appellate Tribunal, Chandigarh, in ITA No.899/Chad/2008, for assessment year 2005-06, proposing to raise following substantial questions of law:-
"i) Whether on the facts and in law, the Hon'ble ITAT was legally justified in deleting the disallowance of Rs.4,05,23,475/- under section 14A of the Income Tax Act, 1961 by ignoring the evidence relied on by the Assessing Officer and the judgment of Hon'ble Punjab and Haryana Court in the case of M/s Abhishek Industries Limited in ITA No.110 of 2005?
ii) Whether on the facts and in law, the Hon'ble ITAT was legally justified in deleting the disallowance of ITA No.157 of 2010 2 Rs.4,05,23,475/- under section 14A of the Income Tax Act, 1961 by holding that a clear nexus has not been established when there is no such requirement to prove the nexus as per the provisions of law?"
Learned counsel for the revenue fairly states that the issues raised in this appeal are covered against the revenue by order of this Court dated 4.11.2009 in the case of the assessee in ITA No.331 of 2009 (CIT II v. M/s Hero Cycles Limited) for the assessment year 2004-05.
In view of above, this appeal is dismissed.
(Adarsh Kumar Goel)
Judge
July 23, 2010 (Rajesh Bindal)
'gs' Judge