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of <h1>Supreme Court Dismisses Special Leave Petition, Upholds High Court Order; All Related Applications Disposed Of.</h1> <h3>M.R. APPARELS PRIVATE LIMITED Versus PRINCIPAL COMMISSIONER OF INCOME TAX, DELHI 6</h3> The SC dismissed the Special Leave Petition, finding no reason to interfere with the impugned order of the HC. All pending applications related to the ... Validity of Revision u/s 263 - as per CIT AO had not verified the necessary relevant facts relating to the taxability of sale of certain immovable property - As decided by HC [2024 (10) TMI 207 - DELHI HIGH COURT] no merit in the appellant’s contention. Concededly, the audit report could not have commented upon the dishonour of cheques, as the report was issued prior to the date of the cheques. AO had accepted the said report. The assessment order does not indicate any enquiries in this regard. Thus, CIT has rightly held that the Assessment Order was passed without making the necessary inquiries and verification. HELD THAT:- Having heard the learned counsel appearing for the petitioner and having gone through the materials on record, we see no reason to interfere with the impugned order passed by the High Court. Special Leave Petition is, accordingly, dismissed. Supreme Court Judgment Summary:Citation: TMIJudges: Hon'ble Mr. Justice J. B. Pardiwala and Hon'ble Mr. Justice R. MahadevanRepresentation for Petitioner: Mr. Rajeev Ahuja, Adv.; Mr. Ashish Choudhury, AOROrder:1. After reviewing the arguments presented by the learned counsel for the petitioner and examining the materials on record, the Supreme Court found 'no reason to interfere with the impugned order passed by the High Court.'2. Consequently, the Special Leave Petition is dismissed.3. Any pending applications are disposed of.
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