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Commissioner of Income-tax, Central-I, Kanpur Versus Subrata Roy

2016 (7) TMI 428 - SUPREME COURT OF INDIA

Validity of ex parte order passed by the high court - Availability of jurisdiction under Order XLI rule 21 of the CPC - Held that:- Not only the said order dated 27th August, 2013 is not an ex parte order as contemplted by the provisions of the Code of Civil Procedure, 1908, the final order dated 27th August, 2013 passed by the High Court clearly contains findings (extracted above) which is to the contrary. In these circumstances, we are of the view that the High Court did not have the jurisdict .....

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2013 in accordance with law, if he is so advised and so inclined. - SPECIAL LEAVE TO APPEAL (C) NO. 23054 OF 2014 - Dated:- 4-7-2016 - RANJAN GOGOI AND PRAFULLA C. PANT, JJ. For The Petitioner : Maninder Singh, ASG, S.A. Haseeb, Manish Pushkarna, Vikas Malhotra and Anil Katiyar, Advs. Kapil Sibal, Sr. Adv., Aarohi Bhalla, Satyen Sethi, Goutam Awasthi, Waseequddin and Ms. Sujata Kurdukar, Advs. ORDER 1. Delay condoned. 2. Leave granted. 3. The challenge in the present Special Leave Petitions is .....

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not an ex parte order. This would be evident from a mere reading of the order dated 27th August, 2013, the relevant part whereof is extracted herein below: "On the other hand, Sri Wasqudeen Ahmed, learned counsel for the assessee has justified the impugned order passed by the Tribunal. He submits that the whole approach of the AO is incorrect as the AO has accepted that the loans taken by the assessee were invested and purchased in the share. The entire observation of the AO are based only .....

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they nor their family members can ever share the profit or assets of the company. But the assessment will have to be completed as per the provisions contained in the Income Tax Act and not on the basis of any statement or advertisement published here and there. Learned counsel further submits that the assessee took the loan from M/s Sahara India Mutual Benefits Co. Ltd. (SIMBCL) and claimed payment of interest to the said company. Such interest had been declared by the said company in its incom .....

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ew of the judgment of the Hon'ble Apex Court in the case of Moody (supra), the interest in shares has to be allowed on the borrowed funds. So, he made a request that the appeals may kindly be dismissed." 5. The participation of the assessee in the hearing of the appeals is also evident from various other parts of the order dated 27th August, 2013 which however need not be extracted in the present order. 6. Shri Kapil Sibal, learned Senior Counsel appearing for the respondents - assessee .....

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