Supreme Court Upholds Assessee in Income Tax Appeal Against Dismissal for Default; Rule 24 of Appellate Tribunal Rules, 1946 Held Ultra Vires Section 33(4) of Income Tax Act, 1922. Appellate Tribunal Must Dispose of Appeal on Merits Under Section 33(4) and Cannot Dismiss for Default, as the Word ‘Thereon’ Mandates a Decision on Correctness of Points Decided by Departmental Authorities.
24 Feb 1969The dispute arose from an income tax assessment where the assessee sold shares in two companies, resulting in profits assessed under Section 10(5A) of...
