Principal Commissioner of Income-tax -II v. Union of India Through Secretary, Ministry of Finance Department
[Citation -2017-LL-0811-1]

Citation 2017-LL-0811-1
Appellant Name Principal Commissioner of Income-tax -II
Respondent Name Union of India Through Secretary, Ministry of Finance Department
Court HIGH COURT OF ALLAHABAD AT LUCKNOW
Relevant Act Income-tax
Date of Order 11/08/2017
Judgment View Judgment
Keyword Tags settlement commission • brought forward loss • unabsorbed depreciation
Bot Summary: Heard learned counsel for the petitioner and Sri Sriniwas Bajpai, Advocate for the Union of India. Thereafter the Settlement Commission considered the record and called the report of Principal Commissioner of Income Tax and on the basis of the said report proceeded to allow the deduction in respect of brought forward losses and the unabsorbed depreciation. The submission of learned counsel for the petitioner is that the aforesaid depreciation is not permitted under law and he has drawn attention of the Court towards report submitted by the Principal C.I.T. The Settlement Commission consists of expert body, the expert body considered overall facts and circumstances of the case and also the fact that business was not being run during the period in question. The said fact could not be denied in the report of the department. The department has submitted the report only on the basis that no benefit was claimed in the return for the assessment year 2006-07. The aforesaid fact has to be taken into consideration in the light of evidence on the record and report submitted by the Principal C.I.T. and the final decision taken by the expert body that is why we are not inclined to interfere in the matter. Learned counsel for the petitioner apprehends about the observation made in the impugned order that favourable report had been submitted by the department but in view of the observation made by us in the earlier part of the order, we do not think that such thing would be read against the department.


Court No. - 3 Case :- MISC. BENCH No. - 17966 of 2017 Petitioner :- Principal Commissioner Of Income Tax -Ii , Aayakar Bhawan,5- Respondent :- Union Of India Through Secretary,Ministry Of Finance Departm Counsel for Petitioner :- Manish Misra Counsel for Respondent :- A.S.G. Hon'ble Satyendra Singh Chauhan,J. Hon'ble Satya Narain Agnihotri,J. Supplementary affidavit filed today be taken on record. Shri Sriniwas Bajpai, Advocate has filed his memo of appearance on behalf of Union of India today, which is taken on record. Heard learned counsel for petitioner and Sri Sriniwas Bajpai, Advocate for Union of India. This petition has been filed against order dated 20.12.2016, said order has come into existence in pursuance of order passed by this Court whereby matter was relegated to Settlement Commission to rectify mistake which was occurred in order of Settlement Commission dated 26.12.2014. Thereafter Settlement Commission considered record and called report of Principal Commissioner of Income Tax and on basis of said report proceeded to allow deduction in respect of brought forward losses and unabsorbed depreciation. submission of learned counsel for petitioner is that aforesaid depreciation is not permitted under law and he has drawn attention of Court towards report submitted by Principal C.I.T. Settlement Commission consists of expert body, expert body considered overall facts and circumstances of case and also fact that business was not being run during period in question. Learned counsel for petitioner has admitted that industry was under lock out. claim was raised before Settlement Commission that industry was in lock out position during aforesaid period. said fact could not be denied in report of department. department has submitted report only on basis that no benefit was claimed in return for assessment year 2006-07. aforesaid fact has to be taken into consideration in light of evidence on record and report submitted by Principal C.I.T. and final decision taken by expert body that is why we are not inclined to interfere in matter. Learned counsel for petitioner apprehends about observation made in impugned order that favourable report had been submitted by department but in view of observation made by us in earlier part of order, we do not think that such thing would be read against department. writ petition is devoid of merit and is dismissed. Order Date :- 11.8.2017 M/A. Principal Commissioner of Income-tax -II v. Union of India Through Secretary, Ministry of Finance Department
Report Error