M/S. Sripathi Paper And v. Union Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 05.08.2021

CORAM:

THE HONOURABLE Mr.JUSTICE S.M.SUBRAMANIAM W.P. No. 15890 of 2006 and WMP No.15659 OF 2006 M/s.Sripathi Paper and Boards Private Limited 1680/31 Ramani's Regency Trichy Road, Ramanathapuram Coimbatore 641 045 Rep. By its President V.Srinivasan ...

Petitioner Vs.

1.Union of India, Ministry of Law, Justice and Company Affairs, represented by its Secretary Government of India Shastri Bhavan R.P.Marg New Delhi 2.Union of India represented by its Secretary Department of Revenue North Block New Delhi 1/4

3.Central Board of Direct Taxes North Block New Delhi 4.Institute of Chartered Accountants of India, Indraprastha Marg Post Bag No.7100 New Delhi.

...

Respondents Prayer: Writ petition is filed under Article 226 of the Constitution of India, for issuance of a Writ of declaration declaring the Accounting Standard AS-22 issued by the 4th respondent illegal and ultra vires Article 14, 19(1)(g) and 265 of the Constitution of India, as contrary to the provisions of the Companies Act and the Income Tax Act which are Central Enactments and hence strike down the same as illegal and ultra vires.

For Petitioner : Mr.M.P.Senthilkumar For Respondents : Mr.A.P.Srinivas and Mr.A.N.R.Jayaprathap for R1 to R3 Senior Standing counsel for Income Tax Mr.M.ARunkumar for M/s.Sampathkumar Associates for R4

O R D E R

Learned counsel for the petitioner submits that the issue involved in this writ petition is covered by the decision of the Hon'ble Supreme Court in the case of J.K.Synthetics v. Union of India [297 ITR 176]. 2/4

2. Recording the same, the above writ petition is closed. However, there shall be no order as to costs. Consequently connected Miscellaneous Petition is also closed.

05.08.2021 Index : Yes/No Internet : Yes Speaking Order/Non-speaking Order RR To 1.The Secretary Ministry of Law, Justice and Company Affairs, Government of India, Shastri Bhavan R.P.Marg, New Delhi 2.The Secretary Department of Revenue North Block, New Delhi 3.Central Board of Direct Taxes North Block, New Delhi 4.Institute of Chartered Accountants of India, Indraprastha Marg Post Bag No.7100 New Delhi.

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S.M.SUBRAMANIAM, J.

RR W.P.No. 15890 of 2006 05.08.2021 4/4