324 ITR 331 (SC) and K.Lakshmanya & Co. v. CIT

The Peerless General Finance & Investment Co. Ltd., Kolkata vs. DCIT, Circle - 3(1), Kolkata

In the result, the appeal of the revenue is partly allowed

…h date the demand relevant to the Assessment Year 1992-93, was set off by the ld. Assessing Officer. For this proposition, the assessee relies on the judgment of the Hon’ble Supreme Court in the case of K. Lakshmanya & Co. v. Commissioner of Income Tax [2017] 399 ITR 657 (SC) and on the decision of the co-ordinate bench of the Tribunal in the assessee’s own case in DCIT vs. Ms. Peerless General Finance & Investment Co. Ltd. ITA No.50/Kol/2009, order dt. 30/05/2017. He submitted a paper book running into 54 pages as well as written submissions in support of these contentions. At Annexure-2, to the written submissi…