M/S.Bannari Amman Spinning 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. 8604 of 2006 and WMP No.9566 OF 2006 M/s.Bannari Amman Spinning Mills Limited 252 Mettupalayam Road Coimbatore 641 043 Rep. By its Managing Director S.V.Arumugam ... 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 Ministry of Finance represented by its Secretary Department of Revenue Central Secretariat North Block, New Delhi

3. Central Board of Direct Taxes Ministry of Finance Central Secretariat 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. 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. Sd/- Assistant Registrar(CS III) //True Copy// Sub Assistant Registrar 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 Ministry of Finance Department of Revenue Central Secretariat North Block, New Delhi

3. Central Board of Direct Taxes Ministry of Finance Central Secretariat North Block, New Delhi

4. Institute of Chartered Accountants of India, Indraprastha Marg Post Bag No.7100 New Delhi.

+1cc to Mr.G.Baskar, Advocate, S.R.No.38617 +2ccs to Mr.A.P.Srinivas, Advocate, S.R.No.38529 W.P.No. 8604 of 2006 PCH(CO) HS(31/08/2021)