The Tax Publishers2018 TaxPub(DT) 3263 (SC)

 

Gupta Perfumers (P.) Ltd. v. ITSC

 

INCOME TAX ACT, 1961

--Appeal (Supreme Court)--Special leave petition Settlement Commission--Immunity for penalty and prosecution--Seized papers belonged to assessee, whether it can insist its application should have been dismissed--Where the assessee preferred SLP to appeal against the judgment of the Delhi High Court in Gupta Perfumers (P) Ltd. v. IT Settlement Commission & Ors. [Writ Petition (Civil) No. 4368 of 2010, dated 18-5- 2012], whereby the High Court held, inter alia that the Settlement Commission had taken on record the reasoning given by the assessee for earning the said income and expressed dissatisfaction and even the assessee insisted that it had made full and true disclosure and also stated the manner in which the said income was earned, therefore, its application should have been dismissed and assessee could not question and challenge the order of the Settlement Commission being the beneficiary of the order, the Supreme Court granted special leave to assessee to appeal thereagainst.--Assessee preferred SLP to appeal against the judgment of the Delhi High Court in Gupta Perfumers (P) Ltd. v. IT Settlement Commission & Ors. [Writ Petition (civil) o. 4368 of 2010, dated 18-5- 2012], whereby the High Court held, inter alia, that the Settlement Commission had taken on record the reasoning given by the assessee for earning the said income and expressed dissatisfaction and even the assessee insists that it had made full and true disclosure and also stated the manner in which the said income was earned, therefore, its application should have been dismissed and assessee could not question and challenge the order of the Settlement Commission being the beneficiary of the order.Held: The Supreme Court granted special leave to assessee to appeal against the High Court's ruling.

SUBSCRIBE TaxPublishers.inSUBSCRIBE FOR FULL CONTENT

TaxPublishers.in

'Kedarnath', 7, Avadh Vihar, Near Nirali Dhani,

Chopasni Road

Jodhpur - 342 008 (Rajasthan) INDIA

Phones : 9785602619 (11 am - 5 pm)

E-Mail : mail@taxpublishers.in / mail.taxpublishers@gmail.com