Supreme Court of India
Indian and Eastern Newspaper Society, New Delhi v. Commissioner of Income Tax, New Delhi
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the opinion of an internal audit party of the Income Tax Department on a point of law cannot be regarded as "information" within the meaning of section 147(b) of the Income Tax Act, 1961.
Judgment, page 14
From the headnote
Income Tax Act 1961--S. 147(b)--Scope of-"Information" "Reason to believe"-Meaning of-Opinion of audit party of Income Tax Department-If would comtitute "information". Section 147(b) of the Income Tax Act, 1961 provides that if an Income Tax Officer has, in consequence of information in his possesaion, reason to believe that income chargeable to tax has escaped assessment for any asc;ess ment year, he may assess or re~s such income. l he internal audit organisation of the income tax department, in the course of auditing the income tax records pertaining to the assessee for certain assess
Where later benches applied it
- 2024 Union of India & Ors. v. Rajeev Bansal
- 2017 M/s Larsen & Toubro Ltd. v. State of Jharkhand and Ors.
Of those, 2 referred to
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