2021 (12) TMI 601 - HC - Income Tax

Minimum Alternate Tax (MAT) - Applicability of section 115JB on electricity company - Applicability of section 43B in respect of the electricity duty collected - HELD THAT - Questions of law raised in the appeals are covered by the judgment of this Court reported in Kerala State Electricity Board V. Deputy Commissioner of Income Tax 2010 (11) TMI 127 - KERALA HIGH COURT . - Decided in favour of assessee.

Summary

Issues:
1. Appeal against orders of the Principal Commissioner of Income Tax for assessment years 2006-07 and 2009-10.
2. Interpretation of questions of law raised in the appeals based on precedent.

Analysis:
1. The judgment delivered by the High Court of Kerala involved appeals filed by the Principal Commissioner of Income Tax against orders related to the assessment years 2006-07 and 2009-10. The appeals were heard by the Honorable Mr. Justice S.V. Bhatti and Mr. Justice Viju Abraham. The counsel representing the parties, including Adv Sri.Christopher Abraham and Adv Raja Kannan, presented their arguments before the court.

2. The specific details of the orders being appealed were outlined, including the assessment years, dates of the orders, the Income Tax Appellate Tribunal involved, and the respective appeal numbers and dates. The parties submitted that the questions of law raised in the appeals were similar to those addressed in a previous judgment of the court in the case of Kerala State Electricity Board v. Deputy Commissioner of Income Tax [2010] 329 ITR 91(KER).

3. The court, after considering the precedent set by the mentioned judgment, ruled in favor of the Assessee and against the Revenue. It was concluded that the questions of law raised in the appeals were answered following the ratio laid down in the earlier judgment. Consequently, the Income Tax Appeals were dismissed based on the application of the established legal principles and interpretation of the relevant laws and precedents.

This comprehensive analysis of the judgment outlines the issues involved, the legal arguments presented, and the court's decision based on the interpretation of questions of law in light of existing precedents.