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TMI Blog2015 (8) TMI 181X X X X Extracts X X X X X X X X Extracts X X X X ..... o tax two years earlier, there would be loss of interest for two years on the amount of ₹ 31,10,000/-. The department has not raised the claim in that regard. We do not wish to express any opinion as to the right of the department to claim interest. - Income Tax Appeal No. 187 of 2014 - - - Dated:- 28-7-2015 - S. J. Vazifdar, ACJ And G. S Sandhawalia, JJ. For the Appellant : Mr Rajesh Sethi, Adv. For the Respondents : Dr Rakesh Gupta, Mr Kanishth Ganeriwala Ms Kanika Ganeriwala, Advs. JUDGMENT S J Vazifdar, ACJ (Oral) 1. This is an appeal against the order of the Income Tax Appellate Tribunal partly allowing the appeal filed by the respondent/assessee in respect of the assessment year 2005-06. The Tribunal d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tment is that the amount ought to be brought to tax for the assessment year 2005-06. 4. Even assuming that the department's contention is correct, it would make no difference in view of the judgments of the Hon'ble Supreme Court, the Bombay High Court and the Delhi High Court. 5. In Commissioner of Income-Tax, Delhi, Ajmer, Rajasthan and Madhya Bharat v. Nagri Mills Co. Ltd. (1958) ITR 681, the Bombay High Court held:- We have often wondered why the Income-tax authorities, in a matter such as this where the deduction is obviously a permissible deduction under the Income-Tax Act, raise disputes as to the year in which the deduction should be allowed. The question as to the year in which a deduction is allowable may be mate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d much outcry is made for nothing. XXX XXX XXX XXX XXX XXX XX 28. In this Court, in its decision dt. 6th May, 2008 i IT Ref. No. 229 of 1988 entitled CIT vs. Vishnu Industrial Gases (P) Ltd. had quoted the aforesaid passage and thereafter remarked that the situation does not seem to have changed over the last fifty years and the Revenue continues to agitate the question whether tax is leviable in a particular year or in some other year. Alas! The aforesaid words of wisdom of Bombay High Court reminded to the Revenue authorities more than two years ago again have not made any dent on the psyche of the Revenue. 7. The matter, in any event, stands concluded by the judgment of the Hon'ble Supreme Court in Commissioner of Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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