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TMI Blog2014 (12) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... view that the Tribunal's order raises only one substantial question of law, which is also admitted in the case of M/s. Trent Ltd. (Income Tax Appeal No.1341 of 2012) on 21 November 2014. 2. The Appeal is, therefore, admitted on the following substantial question of law: "Whether on the facts and in the circumstances of the case and in law, the ITAT was justified in holding that the provisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that question there is a finding of fact, which has been rendered by the Tribunal. The Tribunal opined that section 263 could not have been invoked by the Commissioner in respect of depreciation of investment and to the extent of Rs. 81.32 crores, that amount has already been added back to the Assessee's income and by giving the effect to the Appellate order dated 5 March 2010. The powers of r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction (2) of section 211 of the Indian Companies Act, 1956. Having perused both these sub-sections, namely sub-section (2)(b) of section 115JB of the Income Tax Act, 1961 and sub-section (2) of section 211 of the Companies Act, 1956, it is extremely doubtful as to why these powers under section 263 of the Income Tax Act, 1961 have been invoked by the Commissioner. Prima facie the Commissioner shou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rties. This paper book is treated sufficient for the purpose of admission of this Appeal. However, the Registry must further ensure preparation of complete paper book in accordance with the Rules. The Registry in the first instance must send intimation of admission of this Appeal enclosing therewith a copy of this order so as to enable the Tribunal to act accordingly. X X X X Extracts X X X X X X X X Extracts X X X X
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