COMMISSIONER OF INCOME TAX, KOL-III vs. M/S. INDIAN ALUMINIUM CO. LTD.

In the result, the appeals filed by the revenue

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 5Th January, 2023 Appearance : Mr. Om Narain Rai, Adv. …For The Revenue. Mr. J.P. Khaitan, Sr. Adv. Ms. Arati Agarwal, Adv. Ms. Rosy Banerjee, Adv. Mr. Binayak Gupta, Adv. …For The Assessee The Court : These Appeals Filed By The Revenue As Well As The Assessee Under Section 260A Of The Income Tax Act, 1961 (The Act) Are Directed Against The Order Dated October 20, 2006, Passed By The Income Tax Appellate Tribunal `A’ Bench, Kolkata (Tribunal) In Ita 1221/Kol./2006 & Ita 1045/Kol./2006, For The Assessment Year 2002-03. The Appeal Being Ita 173 Of 2007 Was Admitted On 7Th May, 2008 On The Following Substantial Questions Of Law :- “Whether On The Facts & In The Circumstances Of The Case The Learned Tribunal Was Justified In Law In Not Allowing :

section 36(1)(iii) of the Act without considering the Supreme Court ruling reported in 288 ITR1(SC). 2. Whether on the facts and in the circumstances of the case learned Tribunal was justified in law in making the addition of Rs.22,93,311/- in 3 respect of unutilized MODVAT credit for the relevant previous year without even considering that

PRINCIPAL COMMISSIONER OF INCOME TAX 2 PUNE vs. M/S NALCO WATER INDIA LTD ( FORMERLY NLC NALCO INDIA LTD

Accordingly, the appeal fails and the same is dismissed

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 260A of the Income Tax Act, 1961 (the ‘Act’, in brevity) and is directed against the order dated 5th April, 2017 passed by the Income Tax Appellate Tribunal, “C” Bench, Kolkata (the Tribunal) in ITA No.2111/Kol/2013 for the assessment year 2008-09. The Revenue has raised the following substantial questions of law for consideration: a) Whether on the facts

PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA vs. RAM RATAN MODI

Bench: HON'BLE T.S. SIVAGNANAM, ACTING CHIEF JUSTICE,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

disallowed the interest expenditure to the tune of Rs. 67.65 crores on the ITAT NO. 157 OF 2022 REPORTABLE Page 13 of 16 reason that amount of Rs. 89.02 crores was utilized for non- business purpose and we note that for these precise reasons that no substantial addition was made in the hands of the assessee because the entire money