K.M. SHARMA vs. INCOME TAX OFFICER, WARD 13(7),NEW DELHI

C.A. No.-007742-007742 - 1997Supreme Court11 April 20025 pages
For Petitioner: RANDHIR SINGH JAINFor Respondent: SUSHMA SURI
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What did the Supreme Court hold?

The Supreme Court held that Section 150(1) of the Income Tax Act, as amended, cannot be used to reopen assessments that have already become final due to the bar of limitation prior to the amendment's effective date. Sub-section (2) of Section 150 is intended to protect such finalized assessments.

What were the facts?

The appellant received substantial compensation with interest for acquired lands, with tax deducted at source. The appellant requested reassessment for certain years, but the Income Tax Officer issued notices under Section 148 for many years, including those where reassessment was time-barred.

What were the issues?

Whether the amended provisions of Section 150(1) of the Income Tax Act can be applied retrospectively to reopen assessments already barred by limitation under Section 149, particularly when the reopening is based on a court order under another law.

Which sections of the Income-tax Act were involved?

Section 150,Section 148,Section 149

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Cause title — parties, addresses and appearances
http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 1 of 5 CASE NO.: Appeal (civil) 7742 of 1997 PETITIONER: KM SHARMA Vs. RESPONDENT: INCOME TAX OFFICER, WARD 13(7)NEW DELHI DATE OF JUDGMENT: 11/04/2002 BENCH: CJI, N. Santosh Hegde & D.M. Dharmadhikari

JUDGMENT: DHARMADHIKARI, J In this appeal, which is filed after obtaining special leave, the Order dated 24th May, 1996 of the High Court of Delhi has been assailed. The main question involved is on the application and interpretation of the provisions of Section 150 of the Income Tax Act, 1961 (hereinafter referred to as the Act). The relevant facts necessary for deciding the legal question raised are as under: -

1.

The appellant’s lands were acquired under Section 6 of the Land Acquisition Act and an award was passed on 2.12.1967 by the Chief Commissioner of Delhi granting compensation in favour of the appellant. The Additional District Judge by Judgment dated 20.5.1980 held the appellant entitled to 1/32 share of the compensation awarded under various awards and the appellant was granted total compensation in the sum of Rs.1,18,810/- approximately in the year 1981. 2. On a reference under Section 18 of th

The order continues below.

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