2019 (1) TMI 1961

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....vi Kumar Sr. Standing Counsel. For the Respondent : Mr. N.V. Balaji. COMMON JUDGMENT DR. ANITA SUMANTH, J. These Tax Case (Appeals) are filed by the Revenue challenging an order of the Income Tax Appellate Tribunal dated 19.12.2008 made in ITA Nos. 1282, 1283 and 1516/Mds/2006 in respect of Assessment Years 1999- 2000, 2002-03 and 1999-2000. 2. This Court vide order dated 25.08.2009 admitted....

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....facts and circumstances of the case, no interest can be charged even for the period subsequent to the introduction of sec.234D, merely on the ground that the refund was granted prior to its introduction? 3. We have heard Mr.T.Ravikumar, learned Senior Standing Counsel appearing for the appellant/Revenue and Mr.N.V.Balaji, learned counsel appearing for the respondent/assessee. 4. Both learned c....

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....e relevant Assessment Year is 1999-2000. The main contention of the Revenue is that the Respondent cannot be allowed to claim deduction regarding lease equalization charges since as such there is no express provision regarding such deduction in the IT Act. However, it is apt to note here that the Respondent can be charged only on real income which can be calculated only after applying the prescrib....

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....nciples of law. Moreover, the rule of interpretation says that when internal aid is not available then for the proper interpretation of the Statute, the court may take the help of external aid. If a term is not defined in a Statute then its meaning can be taken as is prevalent in ordinary or commercial parlance. Hence, we do not find any force in the contentions of the Revenue that the accounting ....