{"id":220850,"date":"2010-03-08T00:00:00","date_gmt":"2010-03-07T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/the-commissioner-of-income-tax-vs-ms-chemical-industries-on-8-march-2010"},"modified":"2017-09-18T02:54:56","modified_gmt":"2017-09-17T21:24:56","slug":"the-commissioner-of-income-tax-vs-ms-chemical-industries-on-8-march-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/the-commissioner-of-income-tax-vs-ms-chemical-industries-on-8-march-2010","title":{"rendered":"The Commissioner Of Income Tax vs M\/S Chemical Industries … on 8 March, 2010"},"content":{"rendered":"
Karnataka High Court<\/div>\n
The Commissioner Of Income Tax vs M\/S Chemical Industries … on 8 March, 2010<\/div>\n
Author: K.L.Manjunath & B.V.Nagarathna<\/div>\n
 } {By $3;  z\u00a7s.,%v \u00e9\ufb01svag\u00e9\ufb01am, ABV.)\n\n\n\n, =.__\":s\u20ac;scHE\u00a7e:;caLirzmsrrez\ufb01s\n\n  'cozxzsuimaa BUREAU\n  ' Ti=:\\:;._o'?;'239:, MAHALAKSHMIPURAM LAYGUT\n  V V Tag:m:.ALoRE-550 03:3.\n\nmy Sri: 4:: re PANBST, ADV.)\n\nIN THE HIGH Comm' 0;' KARNATAKA AT BAI\u20acG,_\u00e94i,V(V}\u00a7'\u00a7:'\u00bb_1\u00a7._Vv\nDATES THIS THE 8TH DAY OF MARcH,%:\u00e9jd':{;',1'}:%--: ji  .\nFRESENT   _ V  V\nTHE Hor\u00bbI'13L1': MR. .JUs'r1c:\u00a7 Iai.:\u00a7-.';.42'\u00a7,.r}f'\u00ab=';i4'%Ea}.T.':,I4X\u00a7}%;:'\u00a7;i4i~  ;_ '\n\ufb01g?' .  ,  .  _ \nTm, H<:m'31,1.: MRS. Jusfi\u00e9\ufb01 .Q_.v.r\u00e9A<\u00e9}=.z*\u00e9A\ufb01a\u00a7:zA\n\n\namwmre:  V   M   \n\nC R BEEILQE-?J{3"'--.__ J   \nQUEEN-\u00a3-3 wasp 3 V\nsaw GALOM: A' j; \n\n1.<\/pre>\n
 THE cQ:\u00a7\u00e9,MI\u00a7’;S1c;:\u00e913R11_;\u00a7:3a’:vii:’\u00e9*AX<\/p>\n
Ev<\/p>\n
THE mE:;?i,:”If\u00a5 comhszsslazsgsg<\/p>\n
GE’ 12~4′<::0M_\u00a3a' TAX\u00bb.  *  '<\/p>\n
cI;::CL13~z3{1;__<\/p>\n
('3 R E::m,nIN'<;.., A<\/p>\n
 QUEESNSAPOAD\n<\/p>\n
 -BAN–GAL’i3RE..\u00ab<\/p>\n
“.APPELLANTS<\/p>\n
“.RES?O\ufb01DENT<\/p>\n
{*3<\/p>\n
rm gm ufS.2Cr{}–A of I.’}’.Act, 1961 ai”iSiJ1g t3*\u00a71″1i.,_0f
\nOrder dated 26-0′?-:2{)t35 passed i13.I’I’A Ne. 1381\/5333] 2004
\nfear the Assessmemt Year 1999-00, praying t1i1E1f~’fjJ\u00a7\u20ac\u00a7”\u00a7–.\u00a7:C}’11\u00a7:*\u00a75′:E\u00a5”\u00a7’ +-
\nCourt may b\u00e9 Rlsascd to;  ‘  3 <\/p>\n
i. formulate tha substantial questiqns of’}a*,3s?”st9Qi\u20acdM__\u00a3ii1c’r\u00a2i11,, A’
\n allow the appeal and set asids”1t\u00a31\u00e9:_A_\u00e9:tdcf’}j1;a;s5cc!_
\nITAT Baugaiam in {TA N0. 1,581\/3a11g\/’20o4TV.va-gtegeci 2c}~<}?-
\n2005 con\ufb01rming the \u20acJI'CI !5l"TvF"}"3'\u00a33.SC(iV. by   V
\nC-Oiiillli\ufb01si\ufb01\ufb01\u00e9l' cen\ufb01rm the or7\u00e9e._r  3:)ass\u20acxii~  ttif: Deputy
\nCommissioner of Incnmet Ta.x,V.V-f\ufb01izx\ufb01ics-8(1), Ba11lgi3.lca':9e, in the
\ninterest ofjustiee and \u00e9q\ufb01igiy.   V ..  "\n<\/p>\n
This {TA __C01::1m’g..    this day,
\nNAGARA7HzvA_J_,\u00a2’d:;\ufb01v\u00a2;ed?  rqnomg <\/p>\n
%   % k%%%%,r;.._.._zi%::>..% a _,M%,I.:1z.t;.:::%
\n  ‘ii-1:t~’:.. viievenua by challenging the<\/p>\n
Ol\ufb02\ufb01i” &3.te–e:i’  in \u00a7TA.No.b3j the Enwm\ufb01 “fax<\/p>\n
Appe\ufb02at\u00e9 ‘F_rjfb”u 95:1’, <\/p>\n
 2\u00ab.._ ”  leading to the f\ufb02ing 9:” this appeal mt that the<\/p>\n
L’i*\u20acs*f:;31:1\u20acit:i:it.V. amassed in the stains <31' a \ufb01rm, \u00a331' tha<\/p>\n
as\u00a7\u00e9:\u00a7$m}g\u00e9.\ufb01t-. jfear 1\u00a799~=2OOQ, had \ufb01leci its mmrn Bf iiifz\ufb01lilft,<\/p>\n
u ""–. V."iL3qAE\u00a31V'_1:33."\u00a7.i.1;"E," La sum of Rs.21,9'?,11i}\/-. Far '\u00a3316 wit}. asgczssment<\/p>\n
 _ ;,?\u20acar;…:\ufb021\ufb01 assesses had claimed that the eniir\u00e9 hnsizless hat}.<\/p>\n
   _Mi_3_;:=:%e;1 said as 3 gaing mascara arid thejsefore, rm \u00ab::a;3it.a} tiara: coul\ufb01<\/p>\n
 ha }\ufb01:Vi\u20ac{3 in respect of the said salsa considera\ufb01axa lw\ufb01ived by<\/p>\n
111% assessmae. "=\u20ac3W'\u20ac'\u00a7.?\u20ac\u00a7,[", the AS$\u20ac$S\u00a7.{1g G\ufb01cer 13-B. axamination Clf
\nih\u00e9 sxzaiesrial 0:1 i'\ufb01G0i'Cl heki '\u00a33131; Elia purch:as:er had appoi\ufb01ieztl<\/p>\n
\/i<\/p>\n
,-r"\n<\/p>\n
__ 3 _.\n<\/p>\n
an iiiii\u00e9pemieixt vahler who hm} valued each and aver}? itt\u00e9m
\nwixisch was being said. The total amount was  \ufb02ii\ufb01<\/p>\n
purchaser .2:-am} that the entire amcunt 31353 ft?) 13% tax<\/p>\n
linder the head of capital gains and he Ltjwted   <\/p>\n
a\ufb01\ufb01\ufb01\ufb01\ufb01\ufb01ft that there was a slump 3313′: \u00bbTh& :3S\u00a7\u20ac4′..’~”‘sfsi\u00a71&1ii to’ L. ‘<\/p>\n
13$ campl\ufb01t\ufb01ri by an order datitd  <\/p>\n
tlle: said oncier, the assasse\u00e9 ._;51*z3fm’md  ~bss:fb11=: thii<\/p>\n
Commissica\ufb01er of \u00a7\ufb02\u20ac:0i’\u00a3}\u00a7_’: Tax(AbppV\u00a7a1sj\u00bb.\u00a7V,  However,
\ncon\ufb01riiiing ‘tine cmcial’ 0f   the C=G111.i31iSSi011\u20aci’<\/p>\n
di\ufb01fki;-S\ufb01d of the  ::’;z’:9V.’3’7i?.,_{}'(‘}\u00ab?’:%v_.  said etsxzdmt was<\/p>\n
clia\ufb02\u00e9sjg\ufb01\u00e9lv    by the assess\ufb01e. Th\ufb01
\n1;1*i\u00a53:111\u00e9\u00a7i.\u00ab}i\u20ac3x:::e7v::\u00a7*;  ‘z’*i1~xa*::\u00a71’.s\u00bbLL=ii:1 hmxziers p\u00e9””:1$$ft(} by the said two<\/p>\n
authm:iti&s”‘~\u00ab3mi V315-,1d,t11s:it the \u00e9’,11’t.iI”1:”‘: consi\u00e9\ufb01ra\ufb01on was a<\/p>\n
 ‘~  }11\u00a37,’if}$\u00a7}1j}\u00a7. :~L;11ou1i’t fS,\u00a7iT..t\u00ab{‘ai1$fEi’i’ii”ig of the business and -th\ufb01mfore,<\/p>\n
 ‘\u00a7.\u00a7;V'<:z311ia:1V";a'2x<f;tA ;i3a_ treated as iten\ufb01se\u00e9 safe, by its O\ufb01ifif dated<\/p>\n
2.f;i~ .’?’V;2\u20acl’z.VG;Z”;~uQ.”L:—-  against \ufb02\ufb01t\ufb01 saici under the mv\u00e9imm 113431<\/p>\n
‘V  tiii\ufb01 appaeai IfEi$ii1g th\u00e9 f(3110’Wi,liig substantial question<\/p>\n
” V,<s;:;1.m: "\n<\/p>\n
5′.) Whether the trib1ma3 was -tzorrezczt in
\nkaitling that the sale mack: by the a\ufb01sessec of its
\n1311:} and bu\ufb02sziing, plant mid maclii\ufb01exy, assets,
\niiahiiifinszs ‘fix?! a 3″‘ party plm\u00e9hascr for a
\ncezrizsfs\u00e9er-asstiarm a\ufb01zaunt wmiid aznaunt to a slmnp
\n3316: am} mat a\ufb01 it\ufb01mised 333:: and thar\ufb01fom, rm<\/p>\n
cagiwi gai\ufb01s tax as hem by \ufb01ssessiiig G\ufb01at\ufb01i’
\n*2\/%<\/p>\n
VV 6. Fmaz the aforeaaid clause What is ilatifi\u00e9d is that 111133:<\/p>\n
Busirtess and the gaodwiff peria\ufb01tirzg tiwreto (:1et .-.__<\/p>\n
sf rhea Iitzbilities spece\ufb01ed 5}: Armexture 4
\ntaken ever by Pramitj and for the riot:-wgf\u00e9~z&\u00e9i\u00e9’  ‘
\nGbligafiorts (If CXCB mad the betle\ufb01ts ‘of    u
\nat: licenses, appinvals,  :\n<\/p>\n
v;3*0\u00a3tII’\u00a3\u00a3(3fS etc, arufl gerw\ufb01ifiy fc3;*’:3’m\ufb01\u00a22
\nand peqforvmu-toe fzf the  u’:1.:\u00a7:1:V:A\u00a3\u00a32;fi\ufb01:)rzs:Eiof<\/p>\n
{his agseerzterti  $Au3\u00a7ie~:’_:bi *~:1frv:\u20acg:f’~r4\u00a71;’ustane:1ts<\/p>\n
and cleduc\ufb01brts ei\u00a7;..,   in<\/p>\n
this agri\u00e9zerz\ufb01itf, fie  agjjgreg\u00e9u’e–~”m’? fin:-Iusiue<\/p>\n
  9]; ‘–v \ufb02\ufb01upees two crares
\n   ac\ufb01usted as 0:: the
\n ifwz:”Qf\u00e9~:’   with A:1;i1ex”ut’e~6 to
\n c:g:*ee:”ii\u00e9nf..——–\u00abCapifaf gains tax, as we?! as :11?<\/p>\n
V’ ”  jscsl\u00e9ar arid irzzmsfer duties (3i}i’\u00a5.fl\u20ac\u20ac3f\u20acd with the<\/p>\n
. ” \u00a3r;\u00a5\u00a7;\u00a7z%\u00a7;5fIe3:;A.\u00a7;Ev\u20acP:e said Ezusirm\u00e9gs arid the said un\ufb01t \u00a39
\n  as :72 going maaertz {inc\u00a3uc\u00a7:’:zg for the<\/p>\n
x ‘T .. i\u00a7\u00a5E\u00e9:ii.Sf\u20aci” af Efcaeiwe rfgfzts aver the lami amil cf the
\n rigizfs, arid 5:222:95? \u00a30 :11? buiidin\ufb01, structures,<\/p>\n
em, in the Prwctair) shall? be bariw by CICB.’<\/p>\n
assets and liabili\ufb01zs pertaixii\ufb02g to the b1}.SiJ3.\u20acSS of \u20ac136<\/p>\n
L<\/p>\n
x
\nN,\u00bb<\/p>\n
  is aismissed. ‘<\/p>\n
b1}.Si[1\u20ac:SS as a geing C011\u20ac:\u20ac:r1″1, th\u00e9 ;*v:$13t3xxde;1t-assessceT’:$.’:a:s net
\nto complete with the p”i_1i”‘Ch3S\u20ac\u00a3’ in {he husi\ufb02ess
\n5316 am} pumilase of carb-\ufb01:1 dioxide for a  {sf
\n‘Tiierefore, the’: intsntian of the pux\u00e9fii\u00e9i\u00e9\u00e9ez’   T
\nassesses was to sci} the unit as a  as”\n<\/p>\n
indivisibie entity. The fact  r\u00e9fsppgagm “;\u00ab;\u00a7fs;\u00a7ess;\u00e9e hag
\nagreeafl {wt to compate with   _[.<):umha*ser: aaf'.::=:;r  scald as a
\nsingle unit and whicil  'await would mean
\nthat 'diff sale wgs*a_.s1un1p"s$ij\u00a7&. "  the tribunal was<\/p>\n
justi\ufb01\u00e9d in ff?\u00a5'i3i"Si:A\u00a7ig~"'t}1\ufb01'\u00e9')i'&\u00a2i'S _\u00a7:a:{\u00a7:;s\u20acd 15jz the lower authorities<\/p>\n
by Ezaiding   <\u00a7f' fglump $83.1': Within the
\nizzsaning of   ;'\u00a3i3%\u00a7iJ;);:\u00a7y;ne21t of tax on the lzezar}.
\nGf cagaital gaiiis    Um:1_er the :3-ircuxilstances,
\n:q1;\u00a2sf:i'u;A)ii  raiser} in thig appeal Wank} hav\ufb01<\/p>\n
ta V}':';–: "e\u00a3I\u00a7;$V3\u20aci'\u20ac3\u00bbtT1 the mvexaua atiii accorvdingly, this appeal<\/p>\n
3%'<\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court The Commissioner Of Income Tax vs M\/S Chemical Industries … on 8 March, 2010 Author: K.L.Manjunath & B.V.Nagarathna } {By $3; z\u00a7s.,%v \u00e9\ufb01svag\u00e9\ufb01am, ABV.) , =.__”:s\u20ac;scHE\u00a7e:;caLirzmsrrez\ufb01s ‘cozxzsuimaa BUREAU ‘ Ti=:\\:;._o’?;’239:, MAHALAKSHMIPURAM LAYGUT V V Tag:m:.ALoRE-550 03:3. my Sri: 4:: re PANBST, ADV.) IN THE HIGH Comm’ 0;’ KARNATAKA AT BAI\u20acG,_\u00e94i,V(V}\u00a7’\u00a7:’\u00bb_1\u00a7._Vv DATES THIS […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-220850","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nThe Commissioner Of Income Tax vs M\/S Chemical Industries ... on 8 March, 2010 - Free Judgements of Supreme Court & High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/the-commissioner-of-income-tax-vs-ms-chemical-industries-on-8-march-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Commissioner Of Income Tax vs M\/S Chemical Industries ... on 8 March, 2010 - 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