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 Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court

Balotra Water Pollution Control Treatment And Research Foundation Trust Through Its Chairman Subhash Chand Mehta vs State Of Rajasthan & Ors.
June, 29th 2018
     ITEM NO.13                             COURT NO.5                      SECTION XV

                               S U P R E M E C O U R T O F              I N D I A
                                       RECORD OF PROCEEDINGS

     Petition(s) for Special Leave to Appeal (C)                       No(s).15384/2018

     (Arising out of impugned final judgment and order dated 07-06-2018
     in DBSAW No. 988/2018 passed by the High Court of Judicature for
     Rajasthan at Jodhpur)

     BALOTRA WATER POLLUTION CONTROL TREATMENT AND
     RESEARCH FOUNDATION TRUST THROUGH ITS CHAIRMAN
     SUBHASH CHAND MEHTA                                                             Petitioner(s)

                                                     VERSUS

     STATE OF RAJASTHAN & ORS.                                                       Respondent(s)

     (FOR ADMISSION and I.R. and IA No.82696/2018-EXEMPTION FROM FILING
     C/C OF THE IMPUGNED JUDGMENT and IA No.82699/2018-EXEMPTION FROM
     FILING O.T. )

     Date : 14-06-2018 This petition was called on for hearing today.

     CORAM :
                         HON'BLE MR. JUSTICE UDAY UMESH LALIT
                         HON'BLE MR. JUSTICE DEEPAK GUPTA
                                          (VACATION BENCH)

     For Petitioner(s)               Mr. Sanjay R.Hegde,Sr.Adv.
                                     Mr. Saurabh Ajay Gupta, AOR
                                     Mr. Nishant Bishnoi,Adv.

     For Respondent(s)               Dr. Manish Singhvi,Adv.
                                     Mr. Rishi Matoliya,AOR


                          UPON hearing the counsel the Court made the following
                                             O R D E R

                         The   caveat      entered   on      behalf   of   Respondent      No.4

                   through   Mr.   Rishi    Matoliya,       learned   counsel   is    taken   on

                   record.

                         We have heard Mr. Sanjay Hegde, learned senior counsel
Signature Not Verified






Digitally signed by
ASHA SUNDRIYAL
Date: 2018.06.15
                   appearing for the petitioner and Dr. Manish Singhvi, learned
14:13:45 PKT
Reason:

                   counsel appearing on behalf of respondent No.4 on caveat.


                                                        1
       Learned Single Judge by her order dated 30th May, 2018

had passed certain interim directions and directed that the

matter be listed on 3rd July, 2018.     In an appeal arising

therefrom the Division Bench stayed the operation of that

order, till the matter was taken up by the learned Single

Judge.

       Mr. Sanjay R.Hegde, learned senior counsel submitted

that after the order was passed by the learned Single Judge,

th   of the amount of Cess Tax i.e. Rs.2,80,17,000/- (Rupees

two crore eighty lacs and seventeen thousand) was deposited

on 31st May, 2018 by M/s. Balaji Traders, Kalyanpur.

       Dr. Manish Singhvi, learned counsel on the other hand

submitted that his client has also deposited the money for

the month of June, 2018.

       Without going into the rival contentions and merits of

the matter and specially when the matter is directed to be

listed on 3rd July, 2018, we request the High Court that the

matter be heard on 3rd July, 2018 itself.        The financial

implications may also be considered by the High Court while

passing appropriate orders.






       Special Leave Petition stands disposed of in above

terms.

       Pending applications stand disposed of.


 (ANITA MALHOTRA)                           (JAGDISH CHANDER)
   COURT MASTER                               BRANCH OFFICER



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