KILLICK NIXON LIMITED MUMBAI Vs. DEPUTY COMMISSIONER OF INCOME TAX MUMBAI
SUPREME COURT OF INDIA (FROM: BOMBAY)
KILLIEK NIXON LIMITED,MUMBAI
DEPUTY COMMISSIONER OF INCOME TAX,MUMBAI
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(1.)This appeal by special leave is directed against the judgment of the High Court of Bombay dated 4-12-2000 dismissing the Writ Petition under Article 226 of the Constitution by which the appellant challenged the notice issued under Section 142(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act').
(2.)The brief facts necessary to decide this appeal are as under :
On 26th February, 1993 the appellant filed its return for assessment year 1992-93 and followed it up with a revised return. The Assessing Officer made an order dated 27th March, 1995 under Section 143(3) of the Act disallowing certain claims and rejecting the contentions of the assessee. The appellant filed an appeal before the Commissioner of Income-tax (Appeals). The Appellate Authority by its order dated 25-9-1998 confirmed the order of the Assessing Officer in respect of the following items :
(a) Premium amount of Rs. 3,57,153.00
(b) Depreciation to the extent of Rs. 2,13,000.00
(c) Interest of Rs. 27,14,000.00
(Totaling Rs. 32,84,153.00)
(3.)With regard to four items/heads the Appellate Authority set aside the order of assessment and remitted the matter back to the Assessing Authority with the direction to recompute/reassess after giving an opportunity of hearing to the assessee. The four items/heads remitted to the Assessing Officer were :
"(a) Whether receipt of Rs. 27,93,977.00 represented income from house property or whether it represented business income.
(b) Claim for bad debt of Rs. 68,02,046.00.
(c) Determination of capital gains to the extent of Rs. 4,00,000.00
(d) Disallowance under Rule 6D to the extent of Rs. 31,963.00."
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