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Nav Nirman P. Ltd. vs Commissioner Of Income-Tax. on 25 March, 1988 cites

The State Of Orissa vs Sudhansu Sekhar Misra And Ors on 7 November, 1967

As held by the Supreme Court in State of Orissa v. Sudhansu Sekhar Misra, [1968] AIR 1918 SC 647, a decision is only an authority for what it actually decides and what is of the essence in a decision is its ratio and not what logically follows from the various observations made in it. Now, in CIT v. Jaora Oil Mill [1981] 129 ITR 423 (MP), it was found that the concealed income was Rs. 50,000 only and in these circumstances, it was held that the Tribunal was right in imposing penalty of Rs. 50,000. In the instant case, the Income-tax Officer has found that the assessee had concealed the particulars of its income to the extent of Rs. 13,000. This finding was upheld by the Tribunal.
Supreme Court of India Cites 7 - Cited by 962 - K S Hegde - Full Document
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