PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S H.M. CEMENTS LTD

ITA 152/2017 BEFORE HON’BLE THE CHIEF JUSTICE MR. AJIT SINGH HON’BLE MR. JUSTICE MANOJIT BHUYAN (Ajit Singh, C.J.) Mr. P. Saikia, learned counsel appears on behalf of Ms. N. Hawelia, lear ned Standing Counsel, Income Tax Department 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 Commissioner of Income Tax (CIT) ha s filed this Appeal, under Section 260(A) of the Income Tax Act. During the course of hearing, it was fairly admitted on behalf of the ap pellant that the Supreme Court recently in Commissioner of Income Tax vs. Meghal aya Steels Ltd. (2016) 383 ITR 0217 (SC), has held that the assessee is entitle d to exemption to tax under Section 80-IB and 80-IC of the Income Tax Act on acc ount of transport subsidy. Therefore adjudication of this Appeal is contended to be unnecessary and the departmental lawyer fairly submits that this Appeal shou ld be dismissed on account of the judgment rendered by the Supreme Court, in the Meghalaya Steels Ltd. (Supra). In view of the above submission made on behalf of the Income Tax Departm ent and having regard to the ratio in Meghalaya Steels Ltd. (Supra), we order di smissal of the Appeal.