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1964 (12) TMI 7 - SC - Income TaxWhether there should be a prior adjudication existing before a set-off can be allowed under section 49E? Whether there is any other condition which is necessary to be fulfilled before the section becomes applicable? Held that:- There must be a subsisting obligation to make the payment of refund before a person is entitled to claim a set-off under section 49E. In this case, in view of the orders of the Commissioner and the Central Board of Revenue mentioned above, there was no subsisting obligation to pay, and, therefore, the claim of the appellant must fail. Therefore, agreeing with the High Court, we hold that section 49E of the Act is of no assistance to the appellant and that the petition was rightly dismissed by the High Court. The appeal accordingly fails and is dismissed
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