Commissioner Of Income Tax v. Skm Eniginnering Products

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 12.11.2018

CORAM

THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM and THE HONOURABLE MR.JUSTICE N.SATHISH KUMAR Tax Case (Appeal) No.278 of 2009 Commissioner of Income Tax, Erode.

... Appellant -vsS K M Egg Products Export (Ind.) Ltd., 18, Gandhiji Road, Erode.

... Respondent/Respondent Tax Case (Appeal) filed under Section 260-A of the Income Tax Act, 1961 against the order of the Income-tax Appellate Tribunal Chennai 'D'

Bench, dated 01.10.2007 in I.T.A.No.2505/Mds/2005 for the assessment year 2000-01. For Appellant :

Mr.T.R.Senthi Kumar, Senior Standing Counsel For Respondent :

Ms.Sree Lakshmi Valli

JUDGMENT

(Delivered by T.S.Sivagnanam, J.) This appeal, by the Revenue, is directed against the order of the Income-tax Appellate Tribunal Chennai 'D' Bench, dated 01.10.2007, in I.T.A.No.2505/Mds/2005 for the assessment year 2000-01.

2.The above appeal has been admitted on 09.06.2009, on the following substantial question of law:- "Whether in the facts and circumstances of the case, the Tribunal was right in holding that the interest payable to IFCI, a provision for contingent liability, need not be added back to the book profit as per explanation (c) to Section 115 JB(1)?"

3.The learned counsel for the respondent has filed a memo dated 12.11.2018, stating that in respect of the assessment year 2000-01, the above substantial question of law does not arise https://hcservices.ecourts.gov.in/hcservices/

for consideration, as that was never in issue. This submission is not controverted by the Revenue.

Accordingly, the appeal, filed by the Revenue, is closed. No costs.

Sd/- Assistant Registrar(CO) //True Copy// Sub Assistant Registrar abr To 1.The Income-tax Appellate Tribunal Chennai 'D' Bench. +1cc to Mr.T.R.Senthi Kumar, Advocate sr.no.77214 +1cc to Mr.N.Muthukumar, advocate sr.no.77247 T.C.(A) No.278 of 2009 VGII(CO) NR 05/12/2018 https://hcservices.ecourts.gov.in/hcservices/