SAKAL PAPER LTD.,,PUNE vs. ACIT, CIR.-6,, PUNE
In the result, appeal of Revenue is dismissed and appeal of assessee is partly allowed
ITA 937/PUN/2008[2005-06]Status: DisposedITAT Pune01 Aug 2018AY 2005-06
Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.725/Pun/2008 यििाारण वषा / Assessment Year : 2005-06 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-6, Pune …. Vs. Sakal Papers Ltd., 595, Budhawar Peth, …. प्रत्यथी / Respondent Pune – 411002 Pan: Aaccs7605Q
For Appellant: Shri Ashok KothariFor Respondent: Shri Mukesh Jha
Section 143(3)Section 80I
…not in any event disturb the status quo but should mould the relief by awarding compensation, if necessary as prayed for by the appellant. They have referred to the decision in Needle Industries (I) Pvt. Ltd. V. Needle Industries Newey (I) Holding Ltd. (1981) 3 SCC 33 in support of this submission. We agree. There has been a sea change in the factual scenario. Shantha has dies. The company has become a public limited company. The respondents have been at the helm of the company more than two decades during the legal struggle. Many decisions must of necessity have been taken and implemented. The situation cannot n…