TALBRO FORGINGS vs. CIT JALANDHAR

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ITA/172/2011HC Punjab & HaryanaPHHC01095490201119 July 2011Author: MR. JUSTICE AJAY KUMAR MITTAL,MR. JUSTICE ADARSH KUMAR GOEL3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the substantial questions of law raised by the assessee were covered against the assessee by previous decisions of the same court. Specifically, the court referred to its decision dated 20.05.2011 in ITA No. 121 of 2011 (Vishal Tools & Forgings Private Limited vs. Commissioner of Income Tax, Jalandhar) and its own previous decisions in ITA Nos. 137 and 138 of 2011 (Talbro Forgings vs. Commissioner of Income Tax, Jalandhar) decided on 27.05.2011. In those cited cases, the appeals preferred by the assessee had been dismissed. Therefore, following these precedents, the present appeal was dismissed. No issue was expressly left undecided.

What were the facts?

The assessee, Talbro Forgings, through its partner Arun Talwar, filed an appeal under Section 260A of the Income-Tax Act, 1961, against an order dated 25.9.2009 passed by the Income Tax Appellate Tribunal, Amritsar Bench. The appeal pertains to the assessment year 2004-05. The High Court of Punjab and Haryana at Chandigarh heard the appeal. The amount in dispute is not explicitly stated. The procedural history involves the Tribunal's order being challenged before the High Court.

What were the issues?

The Tribunal had to decide the following substantial questions of law: 1. Whether, on the true and correct interpretation of Section 80HHC read with Section 80-IA(9) and Section 80-IB(13) of the Act, the Tribunal erred in restricting the claim of deductions. 2. Whether interest under Section 234B is mandatory and permissible on income whose taxability is under dispute and could not be anticipated. The assessee argued that the Tribunal erred in restricting deductions and questioned the levy of interest under Section 234B on disputed and unanticipated income. The revenue's contentions are not recorded in the judgment. The assessee relied on the provisions of the Income-Tax Act, 1961, specifically Sections 80HHC, 80-IA(9), 80-IB(13), and 234B.

Which sections of the Income-tax Act were involved?

Section 260A,Section 80HHC,Section 80-IA(9),Section 80-IB(13),Section 234B

AI-generated summary — verify with the full judgment below

Income Tax Appeal No. 172 of 2011 1 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. --- Income Tax Appeal No. 172 of 2011 Date of decision: 19.7.2011 Talbro Forgings through its partner Arun Talwar --- Appellant Versus Commissioner of Income Tax Jalandhar CORAM: HON’BLE MR. JUSTICE ADARSH KUMAR GOEL ACTING CHIEF JUSTICE HON’BLE MR. JUSTICE AJAY KUMAR MITTAL --- Present: Mr. Rishabh Kapoor, Advocate for the appellant. --- AJAY KUMAR MITTAL, J. This appeal under Section 260A of the Income-Tax Act, 1961 (for short “the Act”) has been filed by the assessee against the order dated 25.9.2009, passed by the Income Tax Appellate Tribunal Amritsar Bench, Amritsar (in short “the Tribunal”) in ITA No. 36/ASR/2009, relating to the assessment year 2004-05. 2. The following substantial questions of law have been claimed for determination of this Court:

Income Tax Appeal No. 172 of 2011 2 “(a) Whether on the true and correct interpretation of the provisions of Section 80HHC read with 80-IA (9) read with 80-IB (13) the Tribunal has erred in restricting the claim of deductions under the Act? (b) Whether interest u/s 234B is mandatory in nature and levy of the same is permissible on the income, the taxability of which is under dispute and which could not be anticipated prior in time?”

3.

We have heard learned counsel for the appellant and peruse the record.

4.

Learned counsel for the appellant-assessee very fairly conceded that the aforesaid questions are covered against the assessee by the decision of this Court dated 20.05.2011 in ITA No. 121 of 2011 Vishal Tools & Forgings Private Limited vs. *rkmalik*

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