PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S SATYAM COKE

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ITA/208/2017HC GauhatiGAHC01007232201707 May 20171 pages
AI SummaryDismissed

What did the High Court hold?

The Tribunal, in view of the submission made by the standing counsel for the Income Tax Department and having regard to the ratio laid down in Commissioner of Income Tax vs. Meghalaya Steels Ltd. (2016) 383 ITR 0217 (SC), ordered the dismissal of the appeal. The Supreme Court's judgment in Meghalaya Steels Ltd. was cited as the precedent that finally decided the issue in favour of the assessee regarding the eligibility of transport subsidy for tax exemption. Consequently, the Tribunal found no necessity for further adjudication on the matter. No specific findings were made on the merits of the case by the Tribunal itself, as the dismissal was based on the binding precedent.

What were the facts?

This appeal was filed by the Principal Commissioner of Income Tax, Guwahati-2, against an order concerning the claim of income tax exemption for transport subsidy received by the assessee. The departmental authorities had previously held that the assessee was entitled to exemption under Section 80-IB and 80-IC of the Income Tax Act. The appeal was filed under Section 260(A) of the Income Tax Act. The case was listed for admission before the ITAT. The Revenue, represented by its learned Senior Standing Counsel, appeared, but no one appeared for the respondent assessee.

What were the issues?

1. Whether the transport subsidy amount received by the assessee is eligible for exemption under Section 80-IB and 80-IC of the Income Tax Act, 1961. The Revenue, through its learned Senior Standing Counsel, argued that the issue regarding the deduction of tax on account of transport subsidy has been finally decided by the Supreme Court in the case of Commissioner of Income Tax vs. Meghalaya Steels Ltd. reported in (2016) 383 ITR 0217 (SC). Therefore, the Revenue contended that adjudication of the present appeal is unnecessary and that the appeal should be dismissed in light of the Supreme Court's judgment. No arguments were recorded for the assessee as none appeared.

Which sections of the Income-tax Act were involved?

Section 80-IB,Section 80-IC,Section 260(A)

AI-generated summary — verify with the full judgment below

ITA 208/2017 BEFORE HON’BLE THE CHIEF JUSTICE MR. AJIT SINGH HON’BLE MR. JUSTICE MANOJIT BHUYAN (Ajit Singh, CJ)

Mr. S Saikia, learned Senior Standing Counsel, Income Tax Department ass isted by Mr. DK Bagchi, learned counsel for the appellant.

None for the respondent.

Heard on admission.

This Appeal relates to the claim of income tax exemption for the transpo rt subsidy amount received by the assessee. The departmental authorities declare d that the assessee is entitled to exemption to tax under Section 80-IB and 80-I C of the Income Tax Act and that is how, the Principal Commissioner of Income Ta x, Guwahati-2, Guwahati has filed this Appeal, under Section 260(A) of the Incom ), we order dismissal of the Appeal.

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