| Case ID |
223ec3d8-c574-4e78-9f3a-f3b8836ce416 |
| Body |
View case body. Login to View |
| Case Number |
Income Tax Reference No.328 of 1983 |
| Decision Date |
Nov 14, 1984 |
| Hearing Date |
|
| Decision |
The court ruled that the provisions of section 144-B of the Income Tax Act, 1961, were applicable to the assessment for the year 1975-76. The assessment made on September 26, 1978, was deemed to be within the limitation period as the procedures outlined in section 144-B were followed. The court also determined that the expenditures claimed by the assessee for export inspection fees and other related costs did not qualify for weighted deductions under section 35-B. Therefore, the tribunal's decision to uphold the revenue's stance was affirmed, with the court answering all questions in favor of the revenue. |
| Summary |
This case revolves around the application of section 144-B of the Income Tax Act, 1961, concerning the assessment year 1975-76. The primary issue was whether the provisions of section 144-B applied retroactively to assessments made prior to its enactment. The court clarified that the provisions of section 144-B, which allows for a draft assessment order and subsequent objections, were indeed applicable to the assessment in question. The court's decision emphasized the procedural nature of section 143 and its interplay with section 144-B, highlighting that the latter has an overriding effect. The court concluded that the assessment was not barred by limitation and that certain expenditures claimed by the assessee did not qualify for deductions under the relevant sections. This case serves as a significant reference point for understanding the procedural framework of income tax assessments and the implications of statutory provisions on pending assessments. |
| Court |
Bombay High Court
|
| Entities Involved |
Not available
|
| Judges |
DR. B.P. SARAF,
S.M. JHUNJHNUWALA
|
| Lawyers |
Not available
|
| Petitioners |
CARONA SAHU CO. LTD
|
| Respondents |
COMMISSIONER OF INCOME TAX
|
| Citations |
1997 SLD 472,
1997 PTD 932,
(1995) 213 ITR 106,
(1996) 74 TAX 50
|
| Other Citations |
Daryani (M- H.) v. CIT (1993) 202 ITR 731 (Bon.),
Shree Sajjan Mills Ltd. v. CIT (1985) 156 ITR 585 (SC),
Lubrizol India Ltd. v. CIT (1991) 187 ITR 25 (Bon.)
|
| Laws Involved |
Income Tax Act, 1961
|
| Sections |
256(1),
144B,
35B,
143(3),
153(3)
|