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TMI Blog2014 (12) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... [2014 (12) TMI 631 - BOMBAY HIGH COURT] the same question of law admitted for adjudication - The Tribunal was rightly of the view that section 263 could not have been invoked by the Commissioner in respect of depreciation of investment and to the extent of ₹ 81.32 crores, that amount has already been added back to the assessee's income and by giving the effect to the Appellate order - the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Having heard both sides, we are of the view that the Tribunal's order raises only one substantial question of law, which is also admitted in the case of M/s. Trent Ltd. (Income Tax Appeal No.1341 of 2012) on 21 November 2014. 2. The Appeal is, therefore, admitted on the following substantial question of law: Whether on the facts and in the circumstances of the case and in law, the I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the book profit for the purpose of MAT. 5. In relation to that question there is a finding of fact, which has been rendered by the Tribunal. The Tribunal opined that section 263 could not have been invoked by the Commissioner in respect of depreciation of investment and to the extent of ₹ 81.32 crores, that amount has already been added back to the Assessee's income and by giving ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that section 115JB refers to in its sub-section (2) clause (b), sub-section (2) of section 211 of the Indian Companies Act, 1956. Having perused both these sub-sections, namely sub-section (2)(b) of section 115JB of the Income Tax Act, 1961 and sub-section (2) of section 211 of the Companies Act, 1956, it is extremely doubtful as to why these powers under section 263 of the Income Tax Act, 1961 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this Appeal is summoned from the Tribunal and offered for inspection of the parties. This paper book is treated sufficient for the purpose of admission of this Appeal. However, the Registry must further ensure preparation of complete paper book in accordance with the Rules. The Registry in the first instance must send intimation of admission of this Appeal enclosing therewith a copy of this order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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