Case Law Details
Case Name : DCIT Vs M/s. Sri Balasubramania Mills Ltd. (ITAT Chennai)
Related Assessment Year :
Courts :
All ITAT ITAT Chennai
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Brief of the Case: ITAT Chennai held in the case of DCIT vs M/s. Sri Balasubramania Mills Ltd. that the section 148 could only be invoked whenever there is a failure on the side of Assessee to furnish all the necessary details. But, in this case the details were furnished as relevant sale deed was available with the AO and invocation of section 148 after 4 years without any tangible material can’t be accepted.
Facts of the Case: The facts of the case are that the assessee is a public limited company which declared long term capital gain at Rs. 1,30,64,224/- as against the market value as...
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Hi bala, the order says that the fate of invoking sec 50 C u/s-154, is not known. Has the revenue dropped and proceeded U/S-147?
Hey Balu, I know that your argument and presentation will render justice. Good case. Congrats.
Good argument and nice order. Precedent for all reopening cases by virtue of Sec 50C.
The Assessee’s Counsel has made a clear-cut submission before Ld.CIT, during the course of the Appeal and Hon’ITAT has considered the order of Ld.CIT in detail. Very nice case for Sec 50C read with section 147. Good argument.
speaking order by ITAT chennai. Beneficial to those who are really aggrieved.
yah kesa majak kiya hai-CBDT authorities,
democrtic country ko dictator ship country bana diya hain
date nahin badani thi to nahin badate,
apni galtiyan chhupane ke liye assessee ka gala ghont diya hai
kya heh sahi hai???????
aap bhi sahi raho aur assessee ko bhi date badane ka mauka bhavishya main na do