THE COMMISSIONER OF INCOME TAX vs. M/S.STATE BANK OF TRAVANCORE

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ITA/1280/2009HC KeralaKLHC01026041200906 December 2018Bench: HONOURABLE MR.JUSTICE K.VINOD CHANDRAN,HONOURABLE MR. JUSTICE ASHOK MENON3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that Section 14A of the Income Tax Act, 1961, is applicable only from Assessment Year 2007-08. The Court relied on the decision in Commissioner of Income-Tax-5 v. Essar Tele-holdings Ltd. (2018) 401 ITR 445, which held that the provision would be applicable only from the said assessment year. Since the present appeal pertains to an assessment year prior to 2007-08, the question regarding the applicability of Section 14A must be answered in favour of the assessee and against the Revenue. The appeal filed by the Revenue is therefore rejected. No costs were awarded.

What were the facts?

This is an appeal by the Revenue, the Commissioner of Income Tax, Thiruvananthapuram, against an order of the Income Tax Appellate Tribunal (ITAT), Cochin Bench, dated February 15, 2008. The appeal concerns the assessment year(s) prior to Assessment Year 2007-08. The assessee is M/s. State Bank of Travancore. The core issue revolves around the applicability of Section 14A of the Income Tax Act, 1961, to the assessment year in question. The High Court of Kerala is hearing the appeal.

What were the issues?

1. Whether Section 14A of the Income Tax Act, 1961, is applicable for assessment years prior to Assessment Year 2007-08? Assessee's Contention: The assessee contends that Section 14A of the Income Tax Act, 1961, is applicable only from Assessment Year 2007-08 onwards. This contention is supported by the decision in Commissioner of Income-Tax-5 v. Essar Tele-holdings Ltd. (2018) 401 ITR 445. Revenue's Contention: The judgment does not record any specific arguments made by the Revenue on this issue.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN & THE HONOURABLE MR. JUSTICE ASHOK MENON THURSDAY ,THE 06TH DAY OF DECEMBER 2018 / 15TH AGRAHAYANA, 1940 ITA.No. 1280 of 2009 AGAINST THE ORDER/JUDGMENT IN ITA 280/COCH/2004 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 15-02-2008 APPELLANT/S:/RESPONDENTS/REVENUE THE COMMISSIONER OF INCOME TAX THIRUVANANTHAPURAM. BY ADVS. SRI.P.K.R.MENON,SENIOR COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH SC FOR INCOME TAX RESPONDENT/S:/APPELLANT/ASSESSEE: M/S.STATE BANK OF TRAVANCORE POOJAPPURA, THIRUVANANTHAPURAM. BY ADVS. SRI.P.BALAKRISHNAN (E) SRI.V.SREEKUMAR THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 06.12.2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

K.VINOD CHANDRAN & ASHOK MENON, JJ. ------------------------------------------- ITA No.1280 of 2009 ------------------------------------------- Dated this the 6th day of December, 2018 J U D G M E N T K.Vinod Chandran, J. The question arising in the appeal is as to the applicability of Section 14A of the Income Tax Act, 1961. In (2018) 401 ITR 445 [Commissioner of Income-Tax-5 v. Essar Tele-holdings Ltd.], it has been held that the said provision would be applicable only from the assessment year 2007-08. The present appeal being from an assessment year long prior to that, the question has to be answered in favour of the assessee and against the Revenue. The Income Tax Appeal would stand rejected. No costs. Sd/- K.VINOD CHANDRAN JUDGE Sd/- ASHOK MENON JUDGE

APPENDIX APPELLANT'S

EXHIBITS: ANNEXURE A TRUE COPY OF THE ORDER OF THE ASSESSING OFFICER DATED 29.05.2003. ANNEXURE B TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS) DATED 26.02.2004. ANNEXURE C TRUE COPY OF THE ORDER OF THE APPELLATE TRIBUNAL DATED 15.02.2008. [True Copy] jg

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