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Commissioner Of Income-Tax v. M/S J.K.Synthetics Ltd. - INCOME TAX APPEAL No. 164 of 2004 [2007] RD-AH 14348 (22 August 2007)

 

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HIGH COURT OF JUDICATURE OF ALLAHABAD

Income Tax Appeal No. 164 of 2004

Commissioner of Income Tax-II, Kanpur

vs.

M/s J.K. Synthetics Ltd. Kamla Tower, Kanpur

******

Hon'ble H.L.Gokhale,CJ

Hon'ble R.K.Agrawal,J

Date: August 22, 2007

P.C.

1. Heard Mr. S. Chopra in support of this appeal.

2. In view of the law laid down by the Apex Court in Virtual Soft Systems Ltd. vs. Commissioner of Income-Tax reported in [2007] 289 ITR 83 (SC), this appeal does not deserve to be entertained, inasmuch as  the appellant had returned an income of  loss, which was also assessed at a loss, therefore, no action can be taken for levy of any penalty under Section 271 (1) (c) of the Income Tax Act, 1961.

3. No reason to interfere. The appeal is dismissed.

Date:22.8.2007

RK/    (Chief Justice)

                                                 (R.K.Agrawal,J)


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Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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