PR CIT -3 vs. EASTERN INDIA POWERTECH LTD (EARLIER KNOWN AS DLF POWER LTD.

$~18,19 & 22 * IN THE HIGH COURT OF DELHI AT NEW DELHI

ITA 663/2016, CM Nos. 31877-31878/2016

PR. CIT -3

..... Appellant Through: Mr. P. Roychaudhry, Sr. Standing Counsel along with Ms. Vibhooti Malhotra, Jr. Standing Counsel.

versus EASTERN INDIA POWER LTD ( EARLIER KNOWN AS DLF POWER LTD.)

..... Respondent Through: Ms. Kavita Jha, Advocate along with Mr. Bhuwan Dhupar, Advocate.

And

ITA 664/2016, CM Nos. 31879-31880/2016

PR. CIT-3

..... Appellant Through: Mr. P. Roychaudhry, Sr. Standing Counsel along with Ms. Vibhooti Malhotra, Jr. Standing Counsel.

versus EASTERN POWERTECH LTD. EARLIER KNOW AS DLF POWER LTD.

..... Respondent Through: Ms. Kavita Jha, Advocate along with Mr. Bhuwan Dhupar, Advocate.

And + ITA 667/2016, CM Nos. 31884-31885/2016

PR CIT -3

..... Appellant Through: Mr. P. Roychaudhry, Sr. Standing Counsel along with Ms. Vibhooti Malhotra, Jr. Standing Counsel.

versus EASTERN INDIA POWERTECH LTD (EARLIER KNOWN AS DLF POWER LTD.

..... Respondent Through: Ms. Kavita Jha, Advocate along with Mr. Bhuwan Dhupar, Advocate.

CORAM: HON'BLE MR. JUSTICE S. RAVINDRA BHAT

HON'BLE MS. JUSTICE DEEPA SHARMA

O R D E R %

02.09.2016

The question of law sought to be urged in these appeals is as to the applicability of Section 234B, in regard to the additions made, pursuant to the retrospective amendment (brought into force by Finance Act 2009 with retrospective effect from 01.04.2001), by inclusion of various items in computing book profit. On the basis of the retrospective amendment, the revenue sought to apply Section 234B of the Income Tax Act for recovery of the interest upon the amount being payable. It was brought to the notice of the Court that the applicability of Section 234B in these very circumstances has been ruled out by three other High Courts i.e. Bombay High Court [Commissioner of Income-tax, Mumbai vs. JSW Energy Ltd. (2015) 379 ITR 36], Calcutta High Court [Emami Ltd. vs. CIT (2011) 337 ITR 470/200 Taxmann 326/12 taxxmann.com 64(Cal.)] and Karnataka High Court [Commissioner of Income Tax vs. Jupiter Bio Science Ltd. (2013) 352 ITR 113].