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of <h1>Supreme Court Dismisses Special Leave Petitions, Upholds High Court Decision; Legal Question Remains Open for Future Review.</h1> <h3>Commissioner of Income Tax (LTU) And Anr. Versus State Bank of India</h3> The SC dismissed the Special Leave Petitions, affirming the HC's decision, which adhered to a previous judgment. The SC found no grounds for interference. ... Penalty u/s 271(1)(c) - Concealment of income - validity of notice - HELD THAT:- Having regard to the peculiar facts of this case inasmuch as the High Court [2017 (10) TMI 1400 - KARNATAKA HIGH COURT] has followed CIT Vs. Manjunatha Cotton and Ginning Factory [2013 (7) TMI 620 - KARNATAKA HIGH COURT] we are not inclined to interfere in the matter. The reason being that the aforesaid judgment in Manjunatha Cotton and Ginning Factory case (supra) has been relied upon in M/s SSA’s Emerald Meadows [2015 (11) TMI 1620 - KARNATAKA HIGH COURT] and the said judgment has been sustained by this Court in SLP [2016 (8) TMI 1145 - SC ORDER] inasmuch as the said special leave petition was dismissed. Therefore, we are not inclined to go into the question of law, if any, as such raised in these Special Leave Petitions, the same is kept open. The Supreme Court dismissed the Special Leave Petitions as the High Court followed a previous judgment and there was no need to interfere. The question of law raised in the petitions was kept open. The Special Leave Petitions were dismissed.
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