Sponsored
    Follow Us:

Case Law Details

Case Name : ITO Vs Dhanstock And Share Brokers Pvt Ltd (Calcutta High Court)
Appeal Number : APOT/215/2023 IA NO: GA/2/2023
Date of Judgement/Order : 24/05/2024
Related Assessment Year : 2014-15
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

ITO Vs Dhanstock And Share Brokers Pvt Ltd (Calcutta High Court)

The appeal by the revenue was centered around an order passed under Section 148A(d) of the Income Tax Act, 1961, dated July 28, 2022, for the assessment year 2014-15. The Single Bench had quashed this order, deeming it barred by limitation. The learned senior standing counsel for the appellant, Mr. Prithu Dudheria, and the learned counsel for the respondent, Mr. Hemant Tiwari, presented their arguments before the court.

A crucial aspect of the case was the precedent set by a similar matter in M/s. Arati Marketing Pvt. Ltd. Vs Union of India & Ors. In this case, the Single Bench had addressed identical issues concerning reassessment proceedings for the same assessment year. By a common judgment dated February 9, 2024, all writ petitions related to the assessment year 2014-15 were allowed, which significantly influenced the decision in the present case.

Mr. Dudheria highlighted that an appeal against the judgment of the High Court at Guwahati was pending before the Supreme Court. The revenue had also appealed the decision in M/s. Arati Marketing Pvt. Ltd., and this appeal was tagged with the one against the Guwahati High Court’s judgment. This ongoing litigation in the Supreme Court added a layer of complexity to the proceedings.

The Calcutta High Court, after hearing the arguments, decided to adjourn the matter, providing the appellant time to produce the Supreme Court’s order. This adjournment indicates the court’s careful consideration of the broader implications and the need for consistency in judicial decisions across different jurisdictions.

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

One Comment

  1. MAHENDRA AGARWAALA says:

    Why this commentary, what is the significance of this order? Matter has been adjourned simply, a normal procedure in courts.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031