Jai Steel (India), Jodhpur Vs. Assistant Commissioner of Income Tax (Jodhpur High Court), D.B. INCOME TAX APPEAL NO.53/2011, Date of Judgment- 24.05.2013
These appeals by the respective assesses under Section 260A of the Income Tax Act, 1961 (‘the Act’) arising out of similar nature orders and involving similar nature substantial questions of law have been considered together and are taken up for disposal by this common judgment. For convenience sake, facts from D.B. Income Tax Appeal No.53/2011 [M/s. Jai Steel (India), Jodhpur Vs. Assistant Commissioner of Income Tax, Jodhpur] are taken note of.
This appeal by the assessee is directed against the order dated 19.08.2009 passed by the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur (‘ITAT’) in relation to the assessment proceedings concerning the respondent assessee for the assessment years 2001- 02, 2002-03 and 2000-01.
The substantial questions of law involved in this appeal have been indicated in the order of admission dated 18.03.2011, that may be noticed as under:-
“(i) Whether Tribunal was justified in not examining the question as to whether sale-tax incentive availed by the assesses for running their business is a capital expenditure or revenue expenditure?
(ii) Whether not examining of the issue mentioned in question No.1 by the Tribunal entails remand of the case to Tribunal for giving findings on the said issue?
(iii) Whether Sale tax incentive availed of by the assesses is in the nature of capital receipts or revenue