THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) vs. THE MUTHOOT FINANCE P.LTD.

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ITA/24/2017HC KeralaKLHC01026100201729 March 2019Author: HONOURABLE MR.JUSTICE C.K.ABDUL REHIM,HONOURABLE MR. JUSTICE R. NARAYANA PISHARADI2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court of Kerala held that the issue involved in the appeal stands decided in another case concerning the same assessee for a previous year, specifically in ITA.No.66 of 2015 dated 08.01.2019. The reasoning provided is that the learned Standing Counsel for the Revenue fairly conceded this fact. Consequently, the appeal was dismissed as being covered by the aforementioned judgment. No specific operative directions were issued beyond the dismissal of the appeal. The specific provisions of the Income Tax Act or any other legal principles were not discussed in detail as the matter was decided based on concession and prior adjudication.

What were the facts?

This is an Income Tax Appeal filed by the Principal Commissioner of Income Tax (Central), Kochi, against an order of the Income Tax Appellate Tribunal (ITAT), Cochin Bench. The appeal concerns the respondent assessee, The Muthoot Finance Ltd. The specific assessment year(s) are not explicitly stated in the provided text. The procedural history involves an appeal before the ITAT, the order of which is under challenge. The High Court of Kerala is hearing this appeal. The learned Standing Counsel for the Revenue conceded that the issue in this appeal has already been decided in another case concerning the same assessee for a previous year.

What were the issues?

1. Whether the issue involved in this appeal stands decided in another case filed with respect to the very same assessee for the previous year, in the judgment in ITA.No.66 of 2015 dated 08.01.2019? (Question of fact) Contentions: Assessee: Not recorded. Revenue: The learned Standing Counsel for the Revenue fairly conceded that the issue involved in the above appeal stands decided in another case filed with respect to the very same assessee for the previous year, in the judgment in ITA.No.66 of 2015 dated 08.01.2019.

AI-generated summary — verify with the full judgment below

Cause title — parties, addresses and appearances
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE C.K.ABDUL REHIM & THE HONOURABLE MR. JUSTICE R. NARAYANA PISHARADI FRIDAY ,THE 29TH DAY OF MARCH 2019 / 8TH CHAITHRA, 1941 ITA.No. 24 of 2017 AGAINST THE ORDER IN ITA No.89/Coch/2015 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 26-09-2016 APPELLANT/APPELLANT/RESPONDENT/REVENUE: THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), KOCHI. BY ADVS. SRI.P.K.RAVINDRANATHA MENON,SENIOR COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/RESPONDENT/APPELLANT/ASSESSEE: THE MUTHOOT FINANCE P.LTD. MUTHOOT CHAMBERS, BANERJI ROAD, KOCHI-682018. BY ADVS. SRI.M.GOPIKRISHNAN NAMBIAR SRI.JOSON MANAVALAN SRI.K.JOHN MATHAI SRI.KURYAN THOMAS SRI.PAULOSE C. ABRAHAM SRI.P.GOPINATH (SR.) SRI.RAJA KANNAN THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 29.03.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ITA.No.24 of 2017 2 C.K.ABDUL REHIM, J. & R. NARAYANA PISHARADI, J. ---------------------------------------- ITA.No.24 of 2017 ----------------------------------------- Dated this the 29th day of March, 2019

JUDGMENT C.K.Abdul Rehim, J: The learned Standing Counsel for Government of India (Taxes) had fairly conceded that the issue involved in the above appeal stands decided in another case filed with respect to the very same assessee for the previous year, in the judgment in ITA.No.66 of 2015 dated 08.01.2019.

Under the above mentioned circumstances, the appeal is hereby dismissed, as covered by the judgment mentioned as above. C.K.ABDUL REHIM JUDGE R. NARAYANA PISHARADI JUDGE DK

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