TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court dismisses appeal, upholds decision, avoids remit order, saves costs for assessee.</h1> <h3>M/s Ishwardas Sons Versus The Commissioner of Income Tax, Cochin, Kerala</h3> The Supreme Court of India dismissed the appeal in a case, as the issue was correctly decided, declining to pass a remit order to the High Court to avoid ... Refund of turnover tax assessed by the department - income assessable under Section 41(1) - As per HC if deduction of turnover tax paid was allowed in the assessment for any year prior to the year in which refund is issued, then the refund amount is assessable in the year in which it is received by virtue of operation of Section 41(1) - HELD THAT:- An order of remand to the High Court is required, however, we are not inclined to pass remit order, as the issue, in our opinion, has been correctly decided. Remand in the present appeal will only entail extra expenditure on the part of the assessee and would not be in the interest of justice. Hence, we decline to exercise our power under Article 136 of the Constitution of India and dismiss the present appeal. The Supreme Court of India declined to pass a remit order in a case, as the issue was correctly decided. They dismissed the appeal to avoid extra expenditure for the assessee. No remand to the High Court was ordered.
TaxTMI 
