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2002 (11) TMI 52 - HC - Income TaxSurftax assessments – remission of liability - "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessment has lost its foundation in view of the order of a Division Bench of the High Court remitting the matter to the single judge for fresh disposal. - Tribunal, on the basis of its order rendered in the income-tax proceedings, in the assessee's own case, upheld the order of the Commissioner of Income-tax (Appeals) holding that the assessee was not liable for any surtax under the Companies (Profits) Surtax Act. We have already held that in the light of the decision of the Division Bench of this court in O.S.A. No. 215 of 1984 the scheme of compromise or arrangement has not come into effect. We hold that since the assessments under the Income-tax Act have lost their foundation, the assessee is not liable for surtax liability found in the order of assessment. We therefore hold that the Appellate Tribunal was right in upholding the order of the Commissioner of income-tax (Appeals) cancelling the relevant surtax assessments.
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