Karnataka High Court
The Commissioner Of Income Tax vs M/S Natural Stones Exports Ltd on 31 May, 2010
Bench: N.K.Patil, B.V.Nagarathna
IN THE THIIG}-i COURT 01? KA.R.NA':'AKA AT L3AN(;A1,0;__2I~: DA'1'P3-[D TE--IIS 'rm; :31." DAY 01: 1mm', 20 2 0 1' . ~ PRES££N'I' ' THE i~iON*BL13; MR. 3 U S"i'£C:M1j§; N. K. 1;...n:-?x'»::Aé_':1I.: AND . 1' H K THE HON'BLL: MRS. JUSTIQE £135».-6;\I,<xGA¥':z§;*J:j;-éfigzx 1' I.T.A. No.3s§'*."!./;'_;:§§;:§ " ' BETWEEN: 1.
THE c0MM':'ss_;oN:1+:}€'0i5j IN'cjQ.M {COMPANY c=:m.cIT,E:) C=:.R:' 1»3I;m,';:>.1rx:
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2. TH§:.AssisTA1\:ijV~ <§'<3-zs{'£2»r14:sss10NI2r2 OF INCOME TAX c0MPA;\:'{vVc:'r§ci;:E:»-435) (LR. BU1'LI_)iN.(3'~ "
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- BAVS-PGALzORE **** " ' ' . .. AI'I3E3LLAN'"I'S (By 5:41: M iilsr-{AC1-»-;.A.LA, ADV} M;/S. NATURAL sToN'1-as I«;><;:=->om's i..'i'[;) ...#..T197, 11%! FLOOR, 6'"? CROSS 511% MAEN, GANDHINAGAR E'>ANGALORE~9 . . . RESPOND BENT [By Sri: A SHANKAR <31 Sri. M LAVA. AII)V5s.] L/,.
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2 L(:14-':Mc1ur.'.Vt i0__1'IA'c'iVeu:s1.>1bLVt.c* the Imétsa in Linc ].>1"c5sen*{' Casé beingg id('31'1fi(.?d] in the ea1'Iier ("€180 éi.r~'1.§i \vit.11H<"')"1'1'z s21tisI.yi1'1g' its;(*}l" xx-'I1c'>1§T1c=1" the éi"it'_(%1'i;;1 SIi{)L1§a1'.(.'d in 1111c said p1'c..)\-'issiu1'1s V ' vbe(~:r1 sa1'isl"ie'd 01' not '.9 f 2. "£'11e 'brEé{"fa1(rE5a of the (12150 am': 1'I"1a% lhc 1"(.':.sp<)1'1c'.i(%1'1t 1'."-3 21 . "e0Anip2:u1y Car1"yi1'1g on thc b1,.1s:ai1"1L*:-;s.9 in g_§1'a11itL'. For the * assessnlenl. year 199596 the «'..1SS('.SS(?(? like-rd 1'otL11'11 of i1'1(:0111e? 'fin 30.11.1995 cI(>('r1z11'i1'1g Ni} im'<)11"1v. "1'f"1(.*. ]'('::'.11.11'1'1 was originally pr()Ce.ssed z.mde1' Sc-'.(:[ir:1"1 143(I)(;:1] of the Act. Subsequexlily, the 1r1at.1'(*1' xx-as taluru up for s~s(:1'ut'i11y ar1d Lhc' 'I#M,,..
matter is 1'e1e11a1'1cfed Lo (}T011'11'11iss:"ein1Ier oi' I1'1('o1'11e Tax to safeguard the ini.e1'es1. 0fb01.h thu.' }.)a1't1'e:5a.
5. In the Iigllt of t'.E"1<* E'g1C.lsa and (.'i1'v111'115+;%;.111(?e:~; of £I.1..LV"'T'-.i;2'>.1};~'se Stated above, me 21;.);i)e2:1] filed by the a;1])peiIz'11'1I's~: is{gillI4.i.fg:€i__"i;?..aV___ part. The imp1.1g11ed ordel' passml by 1.I'1('= Cm1":Iv-11.i'é?.Si'(.'>Ij1.e<r (;f Income Tax {Appea1s}--I}. {3a1'1g_:;1lm'e (§§.'11.t::*.C}.,,],'§'.§::». 12,. 1.: 41t')s'i;=~.e1jiV1&1;:;§e .« No.ITA.25/C0. /cm;-\)11 /9899 _x:- ;':;__1uc [\..1'ri'j}.(.V..".'X.VTl.11.(..'V\\-4//I' ':1:I{:e Order dated 24.4.2003 pas3s<:;'c:1 _}1"1(-c:'i'112.e::'l"gfx ;\'.:4;>1)e1la-.1'te T1'ib'Lma1, Bangalore j'A' /§"3E1v1vi;g_§gg9 an, hereby set aside aucl t.I'1e '1V}'1V_;v1"'{'.1tA,e1' }.).2H'1i 10 the C011'11I1is{si0'r1e1"' 11'1<'{1.r.m':<§ "T;._1.x [A§)pc2.1is} F01' (*m'1.='1;1'{1e"1'z--11.1'on in aecordanee wiih '1-(_1w'§1fi.e1'~._;-i"I'{?.>i'c.§i1'1g r';pp(>1'1u11i1y £0 both the parties. and c¥i's:13Vc):'s{:":'.'<>£' iv..1'1e ' s.-:.:«,11'11c: s11'i(:1i_\~' in Ct.)l'1'I§If)1i&-L1'1(T('T wiiflh V' «the r.eiev{¢3.-1,11 pA1'0\»*isiO1i's"'dI' the Act. z--11"1<:i Ruiezé. as; c-:\'pedi1i.(.>L1sly "'£_1s"p0'ssib!_e..M vifiihifi :11 pe1'i(.)d 01' i"m..:1' n'1m11'1'1s E"1'ua'11 £11:--' ('late of 1'eeejp 'L of fa 'c~.¢py' c.>I."LI'1is J1.1dg;'1'11e11i.. All the ("01'11'e1'11io11.s_; L11'ge.d the pafijes are left opex-1.
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6. The s1,1bstm'1E'i2.1E q1:c*.sti<'n1ss of law £.il't:*. lei': 1111;:1'1.:s1>\.{€*'2:t:(%.. since tht": n12'.1t"'t'm' is 1'c';1':§t'1.c('1 bz=u']< to [ink 2-Lu1_§:o1"i:y_.:*;};a£.'i;iri1<:.g.i ' V. , A. W