PETITIONER: SECOND INCOME TAX OFFICER Vs. RESPONDENT: STUMPP SCHUELE AND SOMAPPA (P) LTD. DATE OF JUDGMENT14/09/1990 BENCH: (BEFORE K.N. SINGH, K. JAGANNATHA SHETTY ANDKULDIP SINGH, JJ.) ACT: HEADNOTE: JUDGMENT:
ORDER
These appeals, by leave of this Court under Article 136 of
the Constitution, are directed against the judgment and
order of the, High Court of Karnataka dated 3-7-1975 (Second
ITO v. Stumpp Schuele and Somappa (P) Ltd.2, allowing the
writ petitions filed by the respondent-assessee and quashing
the notices issued under Sections 8 and 16 of the Companies
(Profits) Surtax Act, 1964.
After hearing learned counsel for the parties, we do not
find any good reason to interfere with the view taken by the
High Court. A similar view has been taken by a number of
High Courts in Addl. CIT v. Bimetal Bearings Ltd.3;
Commissioner of Surtax v. Ballarpur Industries Ltd.4; CIT v.
Dalmia Cement (Bharat) Ltd.5; CIT v. Premier Cotton Spinning
Mills Ltd.6; CIT v. Schrader Scovill Duncan Ltd.7; CIT v.
Alembic Chemical Works Co. Ltd.8; Siemens India
1 (1991) 187 ITR 108 (SC): (1991) 94 CTR 160
2 (1977) 106 ITR 399
3 (1977) 110 ITR 131 (Mad)
4 (1979) 116 ITR 528 (Bom)
5 (1980) 126 ITR 736 (Delhi)
6 (1981) 128 ITR 694 (Ker)
7 (1981) 132 ITR 822 (Cal)
8 (1982) 133 ITR 578 (Guj)
152
Ltd. v. K. Subramanian Ltd., IT09; K. Subramanian v. Siemens
India Ltd. 10; CIT v. J. K. Synthetics Ltd. 11; CIT v.
Indian Detonators Ltd. 12; CIT v. Oswal Woollen Mills Ltd.
13; CIT v. Avery Cycle Industries (P) Ltd. 14 and CIT v.
Century Spg. and Mfg. Co. Ltd. 1-5 There is a preponderance
of judicial opinion in favour of the assessee with which we
agree.
The appeals fail and are, accordingly, dismissed. There
will be no order as to costs.
153