Seshasayee Steels P. Ltd. vs Assistant Commissioner of Income Tax, Company Circle VI(2), Chennai

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2019 Supreme(SC) 2339

ROHINTON FALI NARIMAN, ANIRUDDHA BOSE, V.RAMASUBRAMANIAN
Seshasayee Steels P. Ltd. – Appellant
Versus
Assistant Commissioner of Income Tax, Company Circle VI(2), Chennai – Respondent

Advocates:
Advocate Appeared:
For the Appellant : Mr. R. V. Easwar, Sr. Adv. Mr. Rubal Bansal, Adv. Mr. V. Ramasubramanian, AOR Mr. P. Bala Senthil Kumar, Adv.
For the Respondent: Mr. K. Radhakrishnan, Sr. Adv. Ms. Seema Bengani, Adv. Ms. Purnima Bhat Kak, Adv. Mr. Prem Prakash, Adv. Mr. Anas Zaidi, Adv. Mrs. Anil Katiyar, AOR

JUDGMENT :

R. F. NARIMAN, J.

1. The appellant-assessee entered into an agreement to sell, on 15.05.1998, with one Vijay Santhi Builders Limited for a total sale consideration of Rs.5.5 crores.

2. The important clauses of the sale agreement are set out hereinbelow:

2. It is agreed that the total extent of the property is 100 grounds approximately including the areas allotted for road and other amenities, plus the actual extent available for flats.

12. THE PARTY OF THE FIRST PART has already handed over to the PARTY OF THE SECOND PART Xerox copies of all land documents of the schedule mentioned pr

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2019 Supreme(SC) 2339

ROHINTON FALI NARIMAN, ANIRUDDHA BOSE, V.RAMASUBRAMANIANSeshasayee Steels P. Ltd. – AppellantVersusAssistant Commissioner of Income Tax, Company Circle VI(2), Chennai – Respondent

ROHINTON FALI NARIMAN, ANIRUDDHA BOSE, V.RAMASUBRAMANIAN
Seshasayee Steels P. Ltd. – Appellant
Versus
Assistant Commissioner of Income Tax, Company Circle VI(2), Chennai – Respondent