2019 (12) TMI 1521 - HC - Income Tax

Revision u/s 264 - Deduction u/s 80JJAA denied - rejecting the prayer of the petitioner on the ground that the petitioner has not filed the copy of the Auditor Statement under Section 80 JJAA - HELD THAT - Issue can be decided in the light of the decision of AKS Alloys P.Ltd. 2011 (12) TMI 39 - MADRAS HIGH COURT the decision of the Full Bench of High Court of Punjab and Haryana in The Commissioner of Income Tax vs. Punjab Financial Corporation 2001 (12) TMI 50 - PUNJAB AND HARYANA HIGH COURT and the decision of GM Knitting Industries P. Ltd 2015 (11) TMI 397 - SC ORDER Since the issue was covered by the aforesaid decisions the impugned order is set aside. This case is remitted back to the Commissioner of Income Tax to pass appropriate orders after considering the aforesaid decisions.

Summary

Issues:
Challenge to order under Section 264 of Income Tax Act for Assessment Year 2005-2006 based on non-filing of Auditor Statement under Section 80 JJAA.

Analysis:
The petitioner challenged the order by the Commissioner of Income Tax under Section 264 of the Income Tax Act, 1961, for the Assessment Year 2005-2006. The challenge was based on the grounds that the petitioner did not submit the Auditor Statement under Section 80 JJAA of the Income Tax Act. The petitioner argued that the issue could be resolved by referring to previous decisions, including The Commissioner of Income Tax vs. AKS Alloys P.Ltd., a decision of the Madras High Court, The Commissioner of Income Tax vs. Punjab Financial Corporation, a Full Bench decision of the High Court of Punjab and Haryana, and The Commissioner of Income Tax vs. GM Knitting Industries P. Ltd, a decision of the Supreme Court of India. The petitioner contended that since the issue was covered by these decisions, the impugned order should be set aside. Consequently, the High Court decided to remit the case back to the Commissioner of Income Tax for a fresh decision after considering the aforementioned decisions.

The High Court, in its judgment, set aside the impugned order and directed the Commissioner of Income Tax to reconsider the case in light of the decisions referred to by the petitioner. The court disposed of the Writ Petition with the above observations and ruled that no costs would be imposed. This comprehensive analysis of the judgment highlights the legal issues involved, the arguments presented by the parties, and the final decision rendered by the High Court in this matter concerning the Assessment Year 2005-2006.