9911796707
TMI Blog2019 (12) TMI 870X X X X Extracts X X X X X X X X Extracts X X X X ..... dents in both W.Ps : Mrs.Hema Muralikrishnan, Senior Standing Counsel for R1 & R2 Mr.Bavisetty Sridhar, Deputy Official Liquidator -R3 COMMON ORDER These two Writ Petitions have been filed by an individual challenging orders of the Commissioner of Income Tax, R1 dismissing petitions for Revision under Section 264 of the Income Tax Act, 1961 (in short 'Act'). 2. The petitioner had filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected to pay the entire capital gains of a sum of Rs. 1,47,78,955/- in respect of assessment year 2001-02. At Paragraph No.4, the learned Company Judge states as follows: '4. Considering the facts and circumstances of the case and taking note of the report of the Official Liquidator, this Company application is ordered permitting the Official Liquidator to pay the capital gains tax of Rs. 1, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal gains from sale of shares was computed at a figure of Rs. 6,50,73,151/- and the tax thereupon at a figure of Rs. 1,42,45,449/- which, along with surcharge at 13% of a sum of Rs. 20,12,316/-, amounted to Rs. 1,47,78,955/- This amount represents the capital gains tax payable by five entities, i.e., P.G.Saranyan, S.Premchand, K.Sudarsanan, S.Rajalakshmi and P.Hema, the last being the petitioner i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not remitted the admitted tax prior to filing of appeal leading to the dismissal of the same in limine as not maintainable. Thus the filing of the revision application before the Commissioner is proper and there is no flaw in that regard. The second question raised is whether, having filed a return admitting certain income, the petitioner can go back on her return. 6. I am of the view that in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
