Click Here For Best Books On Taxation & Law. Upto 60% Off On Select Titles. Free Shipping & Pay On Delivery!
 

Click Here To Subscribe To Our Free Newsletter

Home › All Judgements › Sree Ayyanar Spinning vs. CIT (Supreme Court)

Sree Ayyanar Spinning vs. CIT (Supreme Court)

Posted on by editor
COURT:
CORAM:
SECTION(S):
GENRE:
CATCH WORDS:
COUNSEL:
DATE: (Date of pronouncement)
DATE: May 19, 2008 (Date of publication)
AY:
FILE:
CITATION:

Once the assessee has moved the rectification application within four years from the date of the appeal order, the Tribunal cannot reject that application on the ground that four years have lapsed, which includes the period of pendency of the application before the Tribunal. The Tribunal is bound to decide the application on merits and cannot dismiss the same on the ground of limitation.

Note: For the merits see Malayala Manorama vs. CIT (SC).

Related Posts:

  • Salem Sree Ramavilas Chit Company vs. DCIT (Madras High Court) The Government of India has introduced E-Governance for conduct of assessment proceedings electronically. It is a laudable steps taken by the Income Tax Department to pave way for an objective assessment without human interaction. At the same time, such proceedings can lead to erroneous assessment if officers are not able…
  • M/s. Sree Alankar vs. PCIT (ITAT Cuttack) The conclusions being drawn up as a result of enquiry is a highly subjective exercise and as to what is appropriate conclusion is something on which perceptions vary from person to persons. These variations in the perceptions of the Assessing Officer vis-a- vis that of the Commissioner, cannot render an…
  • In Re: Guidelines For Court Functioning Through Video Conferencing During Covid-19 Pandemic… Every individual and institution is expected to cooperate in the implementation of measures designed to reduce the transmission of the virus. The scaling down conventional operations within the precincts of courts is a measure in that direction. Access to justice is fundamental to preserve the rule of law in the…
  • Raj Pal Singh vs. CIT (Supreme Court) For chargeability of income-tax, the income ought to have either arrived or accrued. In the matter of acquisition of land under the Act of 1894, taking over of possession before arrival of relevant stage for such taking over may give rise to a potential right in the owner of the…
  • Ramnath & Co vs. CIT (Supreme Court) The principles laid down by the Constitution Bench in Dilip Kumar (2018) 9 SCC 1, when applied to incentive provisions like those for deduction, would also be that the burden lies on the assessee to prove its applicability to his case; and if there be any ambiguity in the deduction…
  • UOI vs. P. D. Sunny (Supreme Court) There shall be ex-parte ad-interim stay of the impugned judgment and order(s) passed in the aforesaid writ petitions and of further proceedings before the High Court(s), in view of the stand taken by the Government of India through learned Solicitor General, before us, that the Government is fully conscious of…

Related Judgements

  1. M/s Ahmed Anis vs. CIT (Supreme Court) 

    Where the assessee had led satisfactory evidence that its business was that of a commission agent and not a trader and 10-11 years had passed, the assessee could not be held responsible for non-appearance of five traders to whom summons … M/s Ahmed Anis vs. CIT (Supreme…
  2. K.C.C. Software Ltd vs. DIT (Inv.) (Supreme Court) 

    Cash in bank is conceptually different from cash in hand. It is not permissible for the Revenue to withdraw money from the attached bank accounts. However, as the order u/s 132B was not challenged, no relief given. Directions given for … K.C.C. Software Ltd vs. DIT (Inv.)…
  3. DCIT vs. Gujarat Alkalies (Supreme Court) 

    Commitment charges paid in respect of borrowed moneys are allowable as a deduction u/s 37(1) of the Act.
  4. JCIT vs. United Phosphorus (Supreme Court) 

    The question as to whether the assessee had an option in law to claim partial depreciation in respect of any block of assets is remanded to the High Court to consider in the light of Mahendra Mills 243 ITR 56 … JCIT vs. United Phosphorus (Supreme Court) Read…
  5. Malayala Manorama vs. CIT (Supreme Court) 

    The AO has no jurisdiction u/s 115J of the Act to go behind the Profit & loss account of the assessee and to make adjustments therein beyond what is expressly provided in s. 115J. An assessee is entitled to provide for depreciation in its books at rates which are…