2021 (12) TMI 1446

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....waminathan, Senior Standing Counsel assisted by Mrs. V. Pushpa, Junior Standing Counsel. For the Respondent : Mr. N.V. Balaji in all cases. COMMON JUDGMENT Judgment of the Court was delivered by R. MAHADEVAN, J. These tax case appeals have been filed by the appellant / Revenue, challenging the order dated 14.03.2008 passed by the Income Tax Appellate Tribunal, Chennai 'D' Bench....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the first substantial question of law involved in these appeals has already been considered and decided in favour of the Revenue by judgment dated 19.03.2019, passed in TCA. Nos. 1457 and 1458 of 2008, the relevant passage of which, is usefully extracted hereunder: "5. On the Second Question of Levy of Interest under section 234D of the Act on the excess refund made to the Assessee along....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssed, the quantum of net payment is to be determined accordingly, after allowing weighted deduction under Section 35 (2AB) of the Act, as indicated above. The provisions of Section 234D of the Act have been held applicable for Assessment Year 2003-2004 in question in terms of the decision of the Co-ordinate Bench of this Court in the case of Fisher Sanmar Ltd., cited supra. Accordingly, Questions ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ad debt or part thereof, which is written off as irrecoverable in the accounts of the assessee for the previous year. 6. In the present case, the admitted fact is that the assessee had taken over certain debts from M/s. Elgi Finance Ltd. and has offered a sum of Rs.1,74,90,872/- and Rs.87,45,435/- as interest received in respect of the debts in the same assessment years. The same have bee....