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2015 (8) TMI 181 - PUNJAB & HARYANA HIGH COURT

2015 (8) TMI 181 - PUNJAB & HARYANA HIGH COURT - TMI - Addition on account of sale of scrap in A.Y. 2005-06 - ITAT deleted the addition by holding it to be pertaining to assessment year 2007-08 - Held that:- It was conceded that even in the present case, the rate of tax remained the same in both the assessment years i.e. 2005-06 and 2007-08. Following the above judgment of Commissioner of Income Tax v. Excel Industries Limited [2013 (10) TMI 324 - SUPREME COURT] it must be held that the dispute .....

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G. S Sandhawalia, JJ. For the Appellant : Mr Rajesh Sethi, Adv. For the Respondents : Dr Rakesh Gupta, Mr Kanishth Ganeriwala & Ms Kanika Ganeriwala, Advs. JUDGMENT S J Vazifdar, ACJ (Oral) 1. This is an appeal against the order of the Income Tax Appellate Tribunal partly allowing the appeal filed by the respondent/assessee in respect of the assessment year 2005-06. The Tribunal deleted the addition of ₹ 31,10,000/- made by the Assessing Officer in the assessment year 2005-06. 2. The r .....

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red in law in deleting the addition of ₹ 31.10 lacs on account of sale of scrap in A.Y. 2005-06 by holding it to be pertaining to assessment year 2007-08, when on the basis of seized documents exact year of taxation is identifiable?" 3. For the purpose of this appeal, we will assume as correct the the finding of fact by the Assessing Officer and the Commissioner of Income Tax that the amount of ₹ 31,10,000/- pertained to the assessment year 2005-06 and not the assessment year 20 .....

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artment's contention is correct, it would make no difference in view of the judgments of the Hon'ble Supreme Court, the Bombay High Court and the Delhi High Court. 5. In Commissioner of Income-Tax, Delhi, Ajmer, Rajasthan and Madhya Bharat v. Nagri Mills Co. Ltd. (1958) ITR 681, the Bombay High Court held:- "We have often wondered why the Income-tax authorities, in a matter such as this where the deduction is obviously a permissible deduction under the Income-Tax Act, raise disputes .....

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d be a matter of no consequence to the Department; and one should have thought that the Department would not fritter away its energies in fighting matters of this kind. But, obviously, judging from the references that come up to us every now and then, the Department appears to delight in raising points of this character which do not affect the taxability of the assessee or the tax that the Department is likely to collect from him whether in one year or the other." 6. This judgment was follo .....

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re, the Revenue does not lose anything, as it would receive the tax on this income in the succeeding year. Still issues are raised and much outcry is made for nothing." XXX XXX XXX XXX XXX XXX XX 28. In this Court, in its decision dt. 6th May, 2008 i IT Ref. No. 229 of 1988 entitled CIT vs. Vishnu Industrial Gases (P) Ltd. had quoted the aforesaid passage and thereafter remarked that the situation does not seem to have changed over the last fifty years and the Revenue continues to agitate t .....

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