1992 PLP 329 (PTD)
COMMISSIONER OF INCOME-TAX Versus KOHINOOR FLOUR MILLS P. LTD.
| Citation | 1992 PLP 329 (PTD) |
| Forum / Court | Supreme Court of India |
| Bench Members | Kuldip Singh and K. Ramaswami, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus KOHINOOR FLOUR MILLS P. LTD. |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 1992 PLP 329 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1992 PLP 329 (PTD)?
The case was heard and decided by the Supreme Court of India bench comprising: Kuldip Singh and K. Ramaswami, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1992 PLP 329 (PTD) (COMMISSIONER OF INCOME-TAX Versus KOHINOOR FLOUR MILLS P. LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- B.B. Ahuja, Manoj Arora and Ms. A. Subhashini, Advocates for Appellant.
- Nemo for Respondent.
Headnotes / Summary
(Appeal from the judgment and order dated August 23 and 26, 1974, of the Gujarat High Court in I.T.R. No.16 of 1973. The judgment of the High Court is reported as C.I.T. v. Kohinoor Flour Mills (1975) 99 ITR 54 (Guj.)).
Estimate riled and tax paid beyond time but before end of financial year
Tax paid has to be deducted for determining basis for imposing penalty. The respondent, a private company, was liable to file an estimate of advance tax for the assessment year 1965-66 before March 1, 1965, and pay the advance tax by March 15, 1965. The respondent filed the estimate on March 25, 1965, and paid tax of Rs.1,83,(00 on March 26, 1965. The Appellate Tribunal directed the penalty under section 273 of the Indian Income-tax Act, 1901, at the rate of 10 percent. should be levied only on the amount of tax payable as reduced by the sum of Rs.1,83,000 paid by the respondent on March 26, 1965. On a reference, the High Court affirmed the order of the Tribunal. The Department preferred an appeal to the Supreme Court. The Supreme Court dismissed the appeal agreeing with the reasoning and conclusion reached by the High Court. C.I.T. v. Kohinoor Flour Mills (1975) 99 ITR 54 affirmed.
Judgment & Decree
Estimate riled and tax paid beyond time but before end of financial year
Tax paid has to be deducted for determining basis for imposing penalty. The respondent, a private company, was liable to file an estimate of advance tax for the assessment year 1965-66 before March 1, 1965, and pay the advance tax by March 15, 1965. The respondent filed the estimate on March 25, 1965, and paid tax of Rs.1,83,(00 on March 26, 1965. The Appellate Tribunal directed the penalty under section 273 of the Indian Income-tax Act, 1901, at the rate of 10 percent. should be levied only on the amount of tax payable as reduced by the sum of Rs.1,83,000 paid by the respondent on March 26, 1965. On a reference, the High Court affirmed the order of the Tribunal. The Department preferred an appeal to the Supreme Court. The Supreme Court dismissed the appeal agreeing with the reasoning and conclusion reached by the High Court. C.I.T. v. Kohinoor Flour Mills (1975) 99 ITR 54 affirmed. B.B. Ahuja, Manoj Arora and Ms. A. Subhashini, Advocates for Appellant. Nemo for Respondent. The following question was referred by the Tribunal for the opinion of the High Court (see (1975) 99 ITR 54, 56): "Whether, on the facts and in the circumstances of the case, the p, Tribunal erred in law in holding that Rs.1,83,000 paid by the assessee on March 26, 1965, should be treated as valid advance tax and should be deducted from 75 percent. of the tax determined for arriving at the basis for imposing the penalty under section 273(b) of the Income-tax Act,. 1901?" We have heard Mr. B.B. Abuja, learned counsel for the Revenue. He has taken us through the judgment of the High Court (C.I.T. v. Kohinoor Flour Mills (1975) 99 ITR 54 (Guj.) and various other documents on the record. The High Court, in a detailed discussion of various provisions of the Income-tax Act, has come to the conclusion that the assessee was entitled to claim the deduction of payment of tax of Rs.1,83,000 made on March 26, 1965, for arriving at the basis for imposing penalty. The question was answered in the negative and against the Revenue. We agree with the reasoning and the conclusion reached by the High Court. The appeal is, therefore, dismissed with no order as to costs. M.B.A./1233/T Appeal dismissed.