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TMI Blog2025 (1) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... he respondents in this regard. This appeal being devoid of merits, is liable to be and accordingly dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... of the erstwhile Companies Act, 1956, now the Companies Act, 2013. For the subject Assessment Year 2009-10, the Assessing Officer passed the Assessment Orders u/s 143(3) of the Income Tax Act, 1961 by making certain additions/disallowance to the returned income as under: Particulars AY 2009-10 Disallowance of freight charges u/s 40(a)(i) of the IT Act 80,19,59,658 Disallowance of Depreciation 13,09,37,839 Disallowance u/s 14A of the IT Act 9,03,79,391 3.2. Being aggrieved by the Assessment Order, the Assessee filed Appeal before the Commissioner of Income Tax (Appeals) and the same came to be partly allowed vide order dated 24.09.2014. This order was carried in appeal both by the Assessee and the Revenue. During the penden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le by the appellant under the provisions of the Income-tax Act, 1961 (43 of 1961), as computed hereunder:-- (A) in a case where any appeal, writ petition or special leave petition is pending before the appellate forum as on the specified date, the amount of tax that is payable by the appellant if such appeal or writ petition or special leave petition was to be decided against him;" Admittedly, the ITAT had favoured appeal of the Assessee and negatived that of the Revenue. That resulted into Revenue filing the appeals before the Bombay High Court. Therefore, the 'disputed tax' means the income tax including surcharge and cess payable by the petitioner should appeal be decided in favour of the Revenue i.e., against the Assessee. 4.2. Bef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wance of Rs.42,92,10,516/- for the Assessment Year 2009-10. The Revenue had preferred appeal before the Bombay High Court and the subject matter is as under: AYs Tax Arrears Disputed tax (i.e., tax @ 33.99% on disputed income] 50% of tax Payable under VsVs 2009-10 42,92,10,516 14,58,88,654 7,29,44,327 If Revenue's appeals were to be allowed in its favour, the amount of tax (i.e., disputed tax) payable by the Assessee is as under: AYs Disputed income Disputed tax (i.e., tax @ 33.99% on disputed income] 2009-10 42,92,10,516 14,58,88,654 In that view of the matter, learned Single Judge at paragraph 22 rightly observed: "It is significant to note that the orders passed by the Assessing Officer giving effect to the orders of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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