Peerless General Finance And Investment Co. Ltd vs. Commissioner Of Income Tax Kalkata -I
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Order Issued After Hearing
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Case Registered
Listed On:
8 Dec 2014
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Order Text
ITEM NO.6 COURT NO.7 SECTION IIIA
S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS
PETITION(S) FOR SPECIAL LEAVE TO APPEAL (C) NO(S). 34124/2014 (ARISING OUT OF IMPUGNED FINAL JUDGMENT AND ORDER DATED 21/07/2014 IN ITA NO. 14/2005 PASSED BY THE HIGH COURT OF CALCUTTA)
PEERLESS GENERAL FINANCE AND INVESTMENT CO. LTD. PETITIONER(S)
VERSUS
COMMISSIONER OF INCOME TAX KALKATA -I RESPONDENT(S) (FOR FINAL DISPOSAL)
Date : 08/12/2015 This petition was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE RANJAN GOGOI HON'BLE MR. JUSTICE N.V. RAMANA
| For Petitioner(s) | Mr. S. Ganesh, Sr. Adv. | |
|---|---|---|
| Mr. S. Sukumaran, Adv. | ||
| Mr. Anand Sukumar, Adv. | ||
| Mr. Bhupesh Kumar Pathak, Adv. | ||
| Ms. Meera Mathur,Adv. | ||
For Respondent(s) Mr. Arijit Prasad, Adv. ` Ms. Mukti Chowdhary, Adv. Mrs. Anil Katiyar, Adv.
UPON hearing the counsel the Court made the following O R D E R
Heard the learned counsels for the parties and perused the relevant material.
The Special Leave Petition is dismissed subject to the observation that the unabsorbed depreciation as on 1st April, 1997 can be set off against the income from any Head for the immediate Assessment Year following 1st April, 1997 and thereafter if there still is any unabsorbed
depreciation the same can be set off only against the Business Income for a period of eight (08) Assessment years.
The Special Leave Petition is disposed of in the above terms.
| [VINOD LAKHINA] | [ASHA SONI] |
|---|---|
| COURT MASTER | COURT MASTER |