TaxTMI 
TaxTMI 
2002 (12) TMI 570
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....the said turnover to tax. The assessee being aggrieved by certain other matters, which were decided against him, filed appeal before the Additional Appellate Assistant Commissioner, Kollam, which was dismissed. However, in the second appeal filed before the Tribunal, the assessee had raised a ground to the effect that the turnover of Rs. 6,90,695 returned by the assessee as taxable turnover is not exigible to tax. The Tribunal rejected the said contention stating that such a contention was not there at the time of assessment and that the assessee itself has recorded the said turnover for assessment. 2.. Sri John Ramesh, learned counsel appearing for the petitioner, submits that the assessee had raised the said contention based on the dec....
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.... dated July 16, 1983, the assessee raised additional grounds as follows: "1. The sum of Rs. 22,84,994 deducted from 'Statement of expenditure during construction' cannot be included in the total income. 2.. It is also contended that on admission (erroneous), no income (the sum of Rs. 22,84,994) can be included in the total income. 3.. The authorities below have erred and failed in their duty in not adjudicating the facts and evidence on record and mechanically including Rs. 22,84,994 in the total income." It was contended before the Tribunal that interest earned in this manner before the setting up of business is not taxable as income and it goes to reduce the capital cost of the plant. It was also contended that o....
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....are entitled to proceed against the assessee under section 46A of the Kerala General Sales Tax Act, if ultimately the Tribunal decides the matter in favour of the assessee. Petition allowed. Appendix [The decision of the three-Judge Bench of the Supreme Court consisting of A.M. AHAMADI C.J.I., K. RAMASWAMY and MRS. SUJATA V. MAHOHAR, JJ., in National Thermal Power Co. Ltd. v. Commissioner of Income-tax (Tax Reference Case No. 4 of 1988 decided on December 4, 1996) is printed below: ] NATIONAL THERMAL POWER CO. LTD. v. COMMISSIONER OF INCOME-TAX The assessee carries on the business, inter alia, of construction, generation, operation and maintenance of thermal power stations and associated transmission network. 2.. Du....
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....ed that on account of two orders of Special Benches of the Tribunal in the cases of Arasan Aluminium Industries (P.) Ltd. and Nagarjuna Steels Ltd., the assessee learnt that the interest earned in this manner before the setting up of business is not taxable as income and it goes to reduce the capital cost of the plant. On learning about this legal position, the assessee sought to include the above three grounds in its grounds of appeal. The Tribunal has declined to entertain these additional grounds. 4.. The Tribunal has framed as many as five questions while making a reference to us. Since the Tribunal has not examined the additional grounds raised by the assessee on the merits, we do not propose to answer the questions relating to the ....
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....peal/cross objections before the Tribunal. We fail to see why the Tribunal should be prevented from considering questions of law arising in assessment proceedings although not raised earlier. 6.. In the case of Jute Corporation of India Ltd. v. Commissioner of Income-tax [1991] 187 ITR 688, this Court, while dealing with the powers of the Appellate Assistant Commissioner observed that an appellate authority has all the powers which the original authority may have in deciding the question before it subject to the restrictions or limitations, if any, prescribed by the statutory provisions. In the absence of any statutory provision, the appellate authority is vested with all the plenary powers which the subordinate authority may have in the....