M/S.APOLLO TYRES LTD V. THE DEPUTY COMMISSIONER OF CORPORATE INCOME TAX

WP(C)/11101/2017

AI Insights

The case involves Apollo Tyres Ltd., the petitioner, who challenged an order directing the deposit of Rs. 15 crores out of an outstanding demand of Rs. 66 crores, which constituted about 25% of the total demand. The petitioner, represented by senior advocate Joseph Markose, argued for a reduction in the demanded deposit amount, citing financial constraints and the impending end of the financial year. The respondents included the Deputy Commissioner of Corporate Income Tax, the Income Tax Appellate Tribunal, Kochi Bench, and the Principal Commissioner of Income Tax. The court's decision to keep the recovery in abeyance was contingent upon the petitioner making a substantial deposit by the specified deadline.

• Counselvise Citation: [2017] 140 COUNSELVISE.COM (IT) 755447 (HC-KERALA)
• Appeal Type: Others
• Pronouncement Date: 30-03-2017
• Assessment Year: misc
• Other Referred Cases: W.P(C).NO. 7517 OF 2017
• Laws Referred To: Section 115JB of the Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: JOSE JOSEPH
• Assessee Lawyers: JOSEPH MARKOSE
• Keywords: Assessment Order; Deposit demand; Income Tax; Stay Petition; Appeal Memorandum
• Section: 115JB

Judgement Text

"IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN THURSDAY , THE 30TH DAY OF MARCH 2017/9TH CHAITHRA, 1939 WP(C).No. 11101 of 2017 (K) ------------------------------------------- PETITIONER(S) : ------------------------- M/S. APOLLO TYRES LTD., 3RD FLOOR, AREEKAL MANSION, NEAR MANORAMA JUNCTION, PANAMPILLY NAGAR, KOCHI- 682 036, REPRESENTED BY ITS UNIT HEAD-PERAMBRA, MR. GEORGE OOMMEN. BY SRI. JOSEPH MARKOSE (SENIOR ADVOCATE) ADVS. SRI.V.ABRAHAM MARKOS SRI.ABRAHAM JOSEPH MARKOS SRI.ISAAC THOMAS SRI.HARAN THOMAS GEORGE SRI.GOVIND VIJAYAKUMARAN NAIR RESPONDENT(S) : ---------------------------- 1. THE DEPUTY COMMISSIONER OF CORPORATE INCOME TAX, CIRCLE 1(1), C.R.BUILDING, I.S.PRESS ROAD, KOCHI- 682 018. 2. INCOME TAX APPELLATE TRIBUNAL, KOCHI BENCH, KAKKANAD, KOCHI- 682 037. 3. THE PRINCIPAL COMMISSIONER OF INCOME TAX, C.R.BUILDING, I.S.PRESS ROAD, KOCHI- 682 018. BY ADV. SRI.JOSE JOSEPH, S.C THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30-03-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Msd. WP(C).No. 11101 of 2017 (K) ------------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS : EXHIBIT P1: TRUE COPY OF MAT COMPUTATION FOR ASSESSMENT YEAR 2012-2013 MADE BY THE PETITIONER UNDER SECTION 115JB. EXHIBIT P2: TRUE COPY OF P&L ACCOUNT AND SCHEDULES FORMING PART OF ANNUAL ACCOUNTS. EXHIBIT P3: TRUE COPY OF THE ASSESSMENT ORDER DATED 25.01.2017 PASSED BY THE 1ST RESPONDENT. EXHIBIT P4: TRUE COPY OF THE APPEAL MEMORANDUM DATED 02.02.2017 FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P5: TRUE COPY OF STAY PETITION DATED 08.02.2017 FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXHIBIT P6: TRUE COPY OF JUDGMENT DATED 07.03.2017 PASSED BY THIS HONOURABLE COURT IN W.P(C).NO. 7517 OF 2017 FILED BY THE PETITIONER. EXHIBIT P7: TRUE COPY OF CIRCULAR OF CBDT DATED 29TH FEBRUARY 2016 EXHIBIT P8: TRUE COPY OF ORDER DATED 24TH MARCH 2017 PASSED BY THE 2ND RESPONDENT. RESPONDENT(S)' EXHIBITS : NIL //TRUE COPY// P.A.TO JUDGE. Msd. K. VINOD CHANDRAN, J - - - - - - - - - - - - -- - - - - - - - - - - - - - - - W.P(C) No. 11101 of 2017 K - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 30th day of March, 2017 J U D G M E N T The petitioner is aggrieved with Ext.P8 which directed deposit of Rs.15 crores out of the outstanding demand of Rs.66crores, which would come to about 25% of the total demand. The learned Senior Counsel appearing for the petitioner submits that the petitioner would pay Rs.10 crores on tomorrow, the last date of the financial year and in such circumstances, the appeal be directed to be disposed of and recovery be kept in abeyance. 2. Considering the very fair submission made by, the learned Senior Counsel it is directed that the petitioner if making the deposit of Rs. 10 crores on or before 31.03.2017 WPC.No. 11101/2017 : 2 : necessarily the appeal shall be disposed of and the recovery shall be kept in abeyance till such disposal of the appeal. Writ petition is disposed of. Sd/- (K. VINOD CHANDRAN, JUDGE) jma //true copy// P.A to Judge "