Himachal Pradesh Court November 2005 Judgments

Himalaya Communications Ltd. Vs. Commissioner of Income Tax and ors.

Court: Himachal Pradesh

Reported in: 2006(1)ShimLC223

Surjit Singh, J.1. Heard.2. Writ petitioner is a Company, incorporated under the Companies Act. It is an Income Tax Assessee. Due to some dispute between the Directors of the Company, negative income tax return was submitted for the accounting year 2001-02, which the Assessing Officer treated as positive income statement and ordered for the payment of certain amount of money, by way of income tax for the said year.3. The writ petitioner filed a statutory appeal before the Commissioner of Income Tax (Appeals) - respondent No. 2, because according to it the order was bad, inasmuch as even if the return was treated as a positive one, the petitioner was entitled to exemption under Section 80- IB of the Income Tax Act, in view of the Government policy for granting exemption to industrial units for the development of industry in the State of Himachal Pradesh. At the same time, the petitioner moved an application to the Assessing Officer for deferment of the demand raised, in respect of incom...