CIT v. P.V.A.L. Kulandagan Chettiar

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The Tax PublishersReview Petition (Civil) D. No. 11645 of 2007 in Civil Appeals Nos. 5752, 5754 to 5756, 5760, 5761, 5746 and 6229 of 1997 and Nos. 2006 and 2451 of 2000 2008 TaxPub(DT) 1212 (SC) : (2008) 300 ITR 0005 CIT v. P.V.A.L. Kulandagan Chettiar INCOME TAX ACT, 1961 Appeal (Supreme Court)- Condonation of delay-Appeal filed by Revenue *Held:There was inordinate delay of 1027 days in filing of the review appeal and no satisfactory explanation has been offered. The review appeal was dismissed on the ground of delay as well as on the merits. The source of the duty drawback was the business of the industrial undertaking which was to manufacture and export goods out of raw material that was imported and on which customs duty was paid. The entitlement for duty drawback arises from section 75(1) of the Customs Act, 1962 read with the relevant notification issued by the Central Government in that regard. Hence, appeal of the revenue was dismissed. Income Tax Act, 1961* Section 261 Decision: In favour of Assessee. CIT v. P.V.A.L. Kulandagan Chettiar SUBSCRIBE FOR FULL CONTENT

The Tax PublishersReview Petition (Civil) D. No. 11645 of 2007 in Civil Appeals Nos. 5752, 5754 to 5756, 5760, 5761, 5746 and 6229 of 1997 and Nos. 2006 and 2451 of 2000
2008 TaxPub(DT) 1212 (SC) : (2008) 300 ITR 0005

CIT v. P.V.A.L. Kulandagan Chettiar

INCOME TAX ACT, 1961

Appeal (Supreme Court)- Condonation of delay-Appeal filed by Revenue

Held:There was inordinate delay of 1027 days in filing of the review appeal and no satisfactory explanation has been offered. The review appeal was dismissed on the ground of delay as well as on the merits. The source of the duty drawback was the business of the industrial undertaking which was to manufacture and export goods out of raw material that was imported and on which customs duty was paid. The entitlement for duty drawback arises from section 75(1) of the Customs Act, 1962 read with the relevant notification issued by the Central Government in that regard. Hence, appeal of the revenue was dismissed.

Income Tax Act, 1961 Section 261

Decision: In favour of Assessee.

CIT v. P.V.A.L. Kulandagan Chettiar