MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

IN THE HIGH COURT OF DELHI AT NEW DELHI . ITA 741/2010 . MARUTI SUZUKI INDIA LTD. ..... Appellant Through Mr. Ajay Vohra with Ms. Kavita Jha and Mr. Somnath Shukla, Advocates versus . COMMISSIONER OF INCOME TAX ..... Respondent Through Mr. Sanjeev Sabharwal, Advocate . CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN . O R D E R 07.07.2010 . The present appeal preferred under Section 260A of the Income Tax Act, 1961 (for brevity ?Act?) is admitted on the following questions of law :- i) Whether on the facts and circumstances of the case the tribunal erred in law in upholding the disallowance of the amount of Rs. 133,45,53,169/- which represented Modvat credit of excise duty that remained unutilised by 31st March, 2001, i.e., the end of the relevant account year? ii) Whether on the facts and circumstances of the case the tribunal erred in law in upholding the disallowance of the amount of ITA 741/2010 Page 1 of 2 Rs. 2,78,27,613/- under Section 43B of Act on account of credit available as on 31st March, 2001 in respect of sales tax paid on purchase of inputs? iii) Whether the tribunal was legally correct in holding that the provisions of Sub-sections (2) and (3) of Section 14A inserted by the Finance Act, 2006, w.e.f. 1st April, 2007 would apply retrospectively to all pending proceedings. iv) Whether the tribunal erred in law in not directing the assessing officer to limit the amount of disallowance under Section 14A of Act as computed with reference to Rule 8D to the amount originally disallowed by the assessing . . officer under Section 14A of Act in original assessment order dated 31st March, 2004 passed under Section 143(3) of Act? Issue notice. . Mr. Sanjeev Sabharwal accepts notice on behalf of respondent. . List along with ITA No. 31/2005. . . . CHIEF JUSTICE . . MANMOHAN, J JULY 07, 2010 rn . ITA 741/2010 Page 2 of 2 #1