| Case ID |
0b8de7a8-0825-478a-b572-2ba2f5f2153a |
| Body |
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| Case Number |
C.A. No. 468 of 1997 |
| Decision Date |
Aug 02, 2000 |
| Hearing Date |
|
| Decision |
The Supreme Court allowed the appeal and set aside the order of the High Court. The Tribunal was directed to refer the two questions of law regarding the entitlement of the assessee for investment allowance under section 32A and deduction under section 80JJ of the Income Tax Act, 1961 to the High Court for a decision. The Court emphasized that these questions raised significant legal issues that warranted judicial review. The ruling clarified the conditions under which investment allowances could be claimed and the criteria for special deductions in the context of the hatchery business, which is vital for understanding tax implications for similar entities. |
| Summary |
This case revolves around the legal interpretations of investment allowances and special deductions under the Indian Income Tax Act, 1961, specifically sections 32A and 80JJ. The Supreme Court addressed queries raised by the Commissioner of Income Tax regarding the entitlement of Venkateswara Hatcheries to these allowances. The Tribunal's earlier decisions were contested, leading to the Supreme Court's intervention to clarify these legal matters. The decision underscores the importance of precise legal definitions and the application of tax laws in the context of business operations, particularly in the hatchery sector. This case serves as a precedent for future tax-related disputes, highlighting the need for clarity in tax legislation and its implications for business entities. Keywords such as 'income tax allowances', 'special deductions', 'Indian Income Tax Act', and 'legal interpretations' are critical in understanding the nuances of this case and its broader impacts on tax law. |
| Court |
Supreme Court of India
|
| Entities Involved |
Venkateswara Hatcheries (P.) Ltd.
|
| Judges |
S. P. Bharucha,
S. S. M. Quadri,
N. Santosh Hegde
|
| Lawyers |
S. Rajappa,
Rajiv Nanda,
Mrs. Sushma Suri,
P.J Paradiwalla,
R.B. Hathikhanawala
|
| Petitioners |
Commissioner of Income Tax
|
| Respondents |
Venkateswara Hatcheries (P.) Ltd.
|
| Citations |
2001 SLD 347,
2001 PTD 2401,
(2001) 247 ITR 273,
(2000) 81 TAX 161
|
| Other Citations |
CIT v. Venkateswara Hatcheries (P.) Ltd. (1999) 237 ITR 174 (SC)
|
| Laws Involved |
Indian Income Tax Act, 1961
|
| Sections |
32A,
80JJ,
256
|