Supreme Court of India
M/s Consolidated Coffee Ltd. Etc. v. The Agricultural Income Tax Officer, Madikeri and Ors.
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What the Court ordered
We hold that the assessee was not in default for the period 24th June, 1989 onwards and that it cannot be subjected to penalty C under Section 42 iri regard to that period.
Judgment, page 7
From the headnote
Agricultural Income Tax: Karnataka Agricultural Income Tax Act, 1957-Sections 41 and 42- levy of penalty during period of stay of recovery of tax-Whether assessee in default during the period and thus liable to penalty-Held, no. Appellant-assessee filed appeals together with applications for stay of recovery of tax before Assistant Commissioner against assessments made by Agricultural Income Tax Officer under the provisions of Karnataka Agricultural Income Tax Act, 1957. Commissioner stayed the recovery of the tax subject to the condition of payment of a stated amount and furnishing of a bank
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