A judgment dated 02.08.2024 referenced in the case has been noted, but its precedential value has been questioned, and higher courts like the Supreme Court have reiterated the legal position regarding reasons to believe and procedural compliance. Gita Power and Infrastructure Private Limited vs The Inspector General of Registration cum the Chief Controlling Revenue Authority - Madras, Best Cybercity (India) Pvt. Ltd. VS Income Tax Officer, Ward 4(3) - Delhi
Legal Precedents and Principles
The Supreme Court's rulings, including M/s TechSpan India Private Ltd. (2018) 6 SCC 685, stress that reasons for belief must be clear and self-explanatory, ensuring procedural fairness. ASST. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1) HYDERABAD vs CYBERCITY BUILDERS & DEVELOPERS PRIVATE LIMITED HYDERABAD - Income Tax Appellate Tribunal, CYBERCITY BUILDERS & DEVELOPERS PRIVATE LIMITED HYDERABAD vs ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1) HYDERABAD - Income Tax Appellate Tribunal
Insights and Conclusion
References:
- INDMAD00000043635, 02100152754, INDMAD00000564646, INDITAT00000041092, INDITAT00000036294, INDMAD00000454753, INDMAD00000050837, 01100064058
Libra Buildtech Private Limited, wherein the issue of refund of stamp duty under the same Act was in question, this Court has observed and held inter alia as under: “29. ... The learned Additional Government Pleader relied in the case of Tirupathi Developers vs. ... To determine the precedential value of Tirupati Developers, we have read the judgment rendered by the Uttarakhand High Court, delivered on 29th September, 2011.[7] Though it does not explicitly emerge from the judgments, we reckon that the petitioner in Tirup....
Libra Buildtech Private Limited, wherein the issue of refund of stamp duty under the same Act was in question, this Court has observed and held inter alia as under:“29. This case reminds us of the observations made by M.C. Chagla, C.J. in Firm Kaluram Sitaram v. ... The learned Additional Government Pleader relied in the case of Tirupathi Developers vs. ... State of Kerala reported in 2018 (3) KLT 137; the judgment of the High Court of Andhra Pradesh in the case of Prajay Engineers Syndicate Limited vs. ... To determine ....
To substantiate the said condition, he relied on the judgment of the learned Single Judge of this Court in the case of Cybercity Builders and Developers Private Limited vs The Inspector General of Registration dated 02.08.2024. ... Thus the judgment in the case ofCybercity Builders and Developers PrivateLimitedhas denuded to loose its status as precedent. 13. ... The said legal position has been reiterated again by the Apex Court in the case of Tirupati Dev....
The petitioner Cybercity Builders and Developers Private Limited are not parties to any of the proceedings. ... (PD)No.2401 of 2019 and CMP.No.15890 of 2019 Cybercity Builders & Developers Private Limited, Rep. by its Managing Director Venu Vinod. ... Petitioner vs 1.M.V.Salai Abaranam 2.B.Anubhama 3.S.Bhaskaran R.Kalanjiam (died) 4.K.Venkatraman 5.Vistra ITCL (India) Limited ....
The petitioner Cybercity Builders and Developers Private Limited are not parties to any of the proceedings. The sale deed also shows that the predecessor in title was one Mr.Manali Parthasarathy Mudaliar and he is no way connected to the judgment debtors Bhaskaran and Anubhyama.
M/s TechSpan India Private Ltd., (2018) 6 SCC 685 as well as S.K. Engineering Company Private Limited vs. ... ACIT, 2017 SCConline(Del) 9360 and BDR Builders and Developers Pvt. Ltd. v. ACIT, 2017 SCCOnline(Del) 9425 this Court held ... “Thus, it is also now well settled that the reasons to believe have to be self explanatory. ... Anu Aggarwal and others M/s Best Cyber City (India) Private Limited is one of the companies of this group. Case of the assessee company was....
Private Limited (hereinafter referred to as the “Applicant Company No. 2 or Transferor Company No. 2”), Akina Builders & Developers Private Limited (hereinafter referred to as the “Applicant Company No.3 or Transferor Company No. 3”), Arlie Builders & Developers Private Limited (hereinafter ... & Developers Private Limited (hereinafter referred to as the “Applic....
ACIT, 2017 SCC Online (Del) 9360 and BDR Builders and Developers Pvt. Ltd. vs. ACIT, 2017 SCC Online (Del) 9425 this Court held "Thus, it is also now well settled that the reasons to believe have to be self explanatory. ... Anu Aggarwal and Others M/s Best Cyber City (India) Private Limited is one of the companies of this group. Case of the assessee company was centralized with Central Circle-11, New Delhi. A notice under section 142(1) was issued on 11-10-2012. ... Engineering Company Private #HL_START....
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