2014 (4) TMI 674

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....sie Athulyajoseph For the Respondent : Sri P. K. Ravindranatha Menon, Sr SC, Sri Jose Joseph, SC JUDGMENT The issue involved in both these cases is almost common, in so far as the question of law is concerned. The petitioner is doing the business of wholesale and retail trading of Indian Made Foreign Liquor ('IMFL')and Beer within the State of Kerala. The dispute involved in W.P.(....

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.... objection was submitted. After considering the same, Ext.P1 assessment order was passed declining the claim, holding that the deduction was impermissible under the statute and it was accordingly, that a total liability of 221,43,29,270/- was mulcted upon the shoulders of the petitioner; followed by demand notice. This in turn was challenged by filing Ext.P2 appeal along with Ext.P3 petition for s....

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....d counsel for the petitioner and Sri. P.K. Ravindranatha Menon, learned Senior Counsel appearing for the respondents at length. 5. The learned counsel for the petitioner submits that the proceedings finalized by the concerned authorities are per se wrong and illegal in all respects and that, the 'Surcharge' paid by the petitioner under the relevant provisions of Kerala Surcharge on Taxe....

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....should be reflected in total income which is to be offered for assessment and that the deduction sought to be made by the petitioners is not sustainable, in view of the law already declared by a Full Bench of this Court as per the decision in A.V. Thomas & Co. Ltd. V. Commissioner of Income Tax (159 ITR 431). It is also brought to the notice of this Court that the principle to be followed in such ....