Supreme Court of India

Reference to document outside the record & law impermissible when applying provision of section 154

Commissioner Of Income Tax Vs Keshri Metal Pvt. Ltd. (Supreme Court of India)

CIT V Keshri Metal Pvt Ltd. (1999) 237 ITR 165 SC- Under the provisions of Section 154 there has to be a mistake apparent from the record. In other words, a look at the record must show there has been an error, and that error may be rectified. Learned counsel for the revenue has not been able to satisfy us that it shows any apparent error...

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Audits cannot be performed by Income Tax Practitioners as special aptitude training retained by Chartered Accountants only

T.D. Venkata Rao Vs. Union Of India (Supreme Court)

The current Section 44AB of the IT Act has been challenged by the Appellant on behalf of the Income Tax Practitioners. The Appellant contends that the Income Tax Practitioners should be entitled to be authorized representatives and that they are excluded for auditing accounts which violates their Fundamental Rights, specifically Article 1...

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Mere Lapse of litigant not enough to not to condone delay in filing of Appeal

N.Balakrishnan vs. M.Krishnamurthy (Supreme Court of India)

It must be remembered that in every case of delay there can be some lapse on the part of the litigant concerned. That alone is not enough to turn down his plea and to shut the door against him. If the explanation does not smack of mala fides or it is not put forth as part of a dilatory strategy the court must show utmost consideration to ...

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Southern Switchgears Ltd. v. CIT (Supreme Court) 1998 232 ITR 359

Southern Switch Gear Ltd Vs CIT And Another (Supreme Court of India)

Civil Appeals Nos 6082, 6083, 6084, 6085 and 6086 of 1990 and 5516 of 1997 (Appeals from the judgment and order dated March 29, 1983 of the Madras High Court in Tax Cases Nos 1065-69 of 1977 and 1070-74 of 1977),...

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National Rayon Corporation Vs. Commissioner of Income Tax (1997) 227 ITR 764 (SC)

National Rayon Corporation Ltd. Vs. The Commissioner Of Income Tax (Supreme Court of India)

SEN, J. The point that falls for determination in this case is whether a sum of Rs. 79 lakhs representing Debenture Redemption Reserve was includible in computing the capital of the assessee Company for the purpose of Companies (Profits) Surtax Act, 1964. The High Court took the view that the amount set apart to redeem the debentures ha...

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Madras Industrial Investment Corporation Ltd. Vs. CIT – Supreme Court

Madras Industrial Investment Corporation Ltd Vs Commissioner Of Income Tax,Tamil Nadu I, Madras (Supreme Court of India)

Since the entire liability to pay the discount had been incurred in the accounting year in question, the assessee was entitled to deduct the entire amount of Rs 3,00,000 in that accounting year This conclusion does not appear to be justified looking to the nature of the liability It is true that the liability has been incurred in the acco...

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Aditanar Educational Institution vs Addl.Commissioner of Income Tax (1997) 3 SCC 346

Aditanar Educational Institution Vs. Additional Commissioner Of Income-Tax (Supreme Court of India)

Dismissing the appeal filled by the Revenue and the cross appeal of the assessee, this Court HELD : 1.1. An educational society or Trust or other similar body running an educational institution solely for educational purposes and not for purposes of profits could be regarded as `other educational institution' coming within Section 10(22) ...

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Excise on goods manufactured prior to March 1, 1978 but removed on or after March 1, 1978?

Collector Of Central Excise,Hyderabad Etc. Vs. M/S. Vazir Sultan Tobacco Company Limited, Hyderabad Etc. (Supreme Court of India)

The special excise duty was being levied from 1963 upto 1971 by various Finance Acts passed from time to time. It was discontinued from 1972 until 1978 when it was revived by the Finance Act, 1978. Thereafter, it was being levied from year to year by annual Finance Acts.The provisions of these Finance Acts,insofar as the levy of special e...

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SC Judgment on Whether apparent can be considered as real?

Sumati Dayal Vs. CIT (Supreme Court)

Sumati Dayal Vs. CIT (Supreme Court) Whether the apparent can be considered as real? As laid down by this Court, apparent must be considered real until it is shown that there are reasons to believe that the apparent is not the real and that the taxing authorities arc entitled to look into the surrounding circumstances […]...

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Order U/s. 154 includes amended order & rectified order also

Hind Wire Industries Ltd Vs CIT (Supreme Court of India)

Hind Wire Industries Ltd. V CIT (1995) 212 ITR 639 SC- What falls for consideration in the present case is the interpretation of the expression from the date of the order sought to be amended in sub-section (7) of section 154 as it stood then It is obvious that the word order has not been qualified in any way and it does not necessarily m...

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June 2022