COMMISSIONER OF INCOME TAX Vs. HINDUSTAN COPPER LIMITED

JUDGEMENT

(1.) The Court : This appeal of the revenue filed under Sec. 260A of the Income Tax Act (the 'Act' in brevity) is directed against the order dtd. 12/7/2017 passed by the Income Tax Appellate Tribunal, C-Bench, Kolkata (the 'Tribunal') in ITA No.2126/Kol/2014 for the assessment year 2008-09.

(2.) The revenue has raised the following substantial questions of law for consideration:

(3.) The issue involved in this case is no longer res integra and has been settled in several decisions. It is brought to our notice by the learned senior counsel for the respondent that in the case of Commissioner of Income Tax vs. Sanmar Speciality Chemicals Ltd. reported in [2020] 428 ITR 237 (Mad) identical issue was considered wherein the Court noted various decisions of the other High Courts and in particular the decision of the High Court of Gujarat in General Motors India P. Ltd. vs. DCIT reported in [2013] 354 ITR 244(Guj.) as well as the circular no.14 of 2001 dtd. 9/11/2001 issued by the Central Board of Direct Taxes (CBDT) and granted relief to the assessee. The operative portion of the judgement reads as follows: