THE COMMISSIONER OF INCOME TAX vs. STATE BANK OF TRAVANCORE,

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ITA/830/2009HC KeralaKLHC01025591200906 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 the assessment year 2007-08 onwards. This decision was based on the High Court's own ruling in the case of Commissioner of Income-Tax-5 v. Essar Tele-holdings Ltd. (2018) 401 ITR 445. Since the present appeal pertains to an assessment year prior to 2007-08, the question regarding the applicability of Section 14A is answered in favour of the assessee and against the Revenue. Consequently, the Income Tax Appeal is rejected. No costs were awarded.

What were the facts?

This appeal concerns the applicability of Section 14A of the Income Tax Act, 1961. The appellant is the Commissioner of Income Tax, Thiruvananthapuram, and the respondent is the State Bank of Travancore. The appeal is against an order of the Income Tax Appellate Tribunal (ITAT), Cochin Bench, dated September 19, 2006. The assessment year is not explicitly stated but is described as 'long prior' to assessment year 2007-08. The core issue revolves around whether Section 14A could be invoked for the assessment year in question.

What were the issues?

1. Whether Section 14A of the Income Tax Act, 1961, is applicable to the assessment year in question, which is prior to assessment year 2007-08? Assessee's contention: The assessee, State Bank of Travancore, would implicitly benefit from a ruling that Section 14A is not applicable for the assessment year in question. The judgment relies on a precedent to support this. No specific authorities or precedents are named for the assessee's argument in the provided text. Revenue's contention: The Revenue, represented by the Commissioner of Income Tax, would argue for the applicability of Section 14A. The judgment indicates this argument was considered and rejected. No specific authorities or precedents are named for the Revenue's argument in the provided text.

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. 830 of 2009 AGAINST THE ORDER/JUDGMENT IN ITA 295/COCH/2003 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 19-09-2006 APPELLANT/S:/RESPONDENT:/REVENUE: THE COMMISSIONER OF INCOME TAX THIRUVANANTHAPURAM. BY ADVS. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH SC FOR INCOME TAX RESPONDENT/S:/APPELLANT/ASSESSEE: STATE BANK OF TRAVANCORE, POOJAPPURA,TRIVANDRUM. BY ADVS. SRI.P.BALAKRISHNAN (E) SRI.SANTHOSH MATHEW SRI.SANTHOSH NINAN 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.830 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

ITA 830/09 APPENDIX APPELLANT'S EXHIBITS: ANNEXURE-A TRUE COPY OF THE ORDER OF THE ASSESSING OFFICER DATED 6/2/2003. ANNEXURE-B TRUE COPY OF THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS) DATED 27/5/2003. ANNEXURE-C TRUE COPY OF THE ORDER OF THE APPELLATE TRIBUNAL DATED 3/10/2006. [True Copy] jg

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