Supreme Court of India
Vls Finance Ltd. & Anr. v. Commissioner of Income Tax & Anr.
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
In view of the foregoing, this appeal is liable to be dismissed and is, accordingly, dismissed with costs.
Judgment, page 17
From the headnote
Income Tax Act, 1961 - s. 158BE(2). explanation 1 - Completion of block assessment - Computation of two years period of limitation - Period during which assessment proceedings are stayed by order of a court - Exclusion of - Held: Period during which interim stay of the order passed by the court is in operation has to be excluded while computing the period of two years as limitation period prescribed for completing the block assessment - On facts, special audit and its report was an integral step towards assessment proceedings - Assessing officer formed an opinion that there was a need for
Authorities it was built on
Where later benches applied it
- 2024 Union of India & Ors. v. Rajeev Bansal
- 2023 Anil Minda and Others v. Commissioner of Income Tax
Of those, 2 relied on
Sign in free to read it
- The full judgment, page by page, as published in the Supreme Court Reports
- The ratio: what the Court held, verbatim, with the page it sits on
- Every bench that relied on it, and every bench that argued against it
- Search every reported judgment, by party, citation or question
- Download the PDF, copy pinpoint citations ready for a filing
An email address, no password.