2015 (9) TMI 139

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....For the Respondent : Mr Pankaj Jain, Sr. Adv. with Mr Divya Suri, Adv., and Mr Sachin Bhardwaj, Adv. JUDGMENT S. J. Vazifdar, ACJ (Oral) C.M. No. 27376-CII of 2014 We are inclined to condone the delay as ITA No. 30 of 2014 has first been filed which, by order dated 06.10.2014, was allowed to be withdrawn with liberty to file a fresh appeal. ITA No. 425 of 2014 (O & M) This is an ....

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....and in the circumstances of the case, the Hon'ble ITAT is justified in law in confirming the order of CIT(A)-I, whereas Explanation 2 to Section 132B of the Income Tax Act, 1961 inserted by the Finance Act, 2013, with effect from 01-06-2013 has clarified that the "existing liability" does not include advance tax payable in accordance with the provisions of Part C of Chapter XVII. (iii) Whet....

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....C(1) (a) of the Income Tax Act, 1961, according to the ratio of the judgment of This Hon'ble Court in the case of CIT vs. Arun Kapoor, (2011) 234 ITR 351 (P & H) ." Question Nos. 1, 2 and 3 must be decided against the appellant in view of the judgment of a Division Bench of this Court dated 29.09.2014 in the case of Commissioner of Income Tax (Central), Ludhiana vs. Sh. Sandeep Jain and oth....