The Commissioner Of Income Tax vs M/S Jeevan Kumar Agarwal
2014 Latest Caselaw 1477 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 

?Court No. - 33
 

 
Case :- INCOME TAX APPEAL No. - 373 of 2005
 

 
Appellant :- The Commissioner Of Income Tax
 
Respondent :- M/S Jeevan Kumar Agarwal
 
Counsel for Appellant :- S.C.
 

 
Hon'ble Rajes Kumar,J.

Hon'ble Shashi Kant,J.

Admit on the following questions of law :

(1) "Whether on the facts and circumstances of the case, the Hon'ble ITAT was justified in law in holding that the reassessment proceedings were not legal on the ground it was a merely a case of change of opinion without appreciating that the matter regarding the taxability of the goodwill was not considered and decided at time of original assessment proceedings.

(4) Whether on the facts and circumstances of the case, the Hon'ble ITAT was justified in law in holding that there was no transfer of goodwill in the case of the assessee while the complete business of the asseesee HUF of running a sweet shop in the name of M/s Banarsi Misthan Bhandar was taken over by a new company of the same group namely M/s Banarsi Misthan Bhandar (P) Ltd., which constituted the transfer of business of the assessee to the newly formed company and the goodwill on account of the said transfer of business was taxable in the hands of the assessee HUF".

Order Date :- 2.5.2014

Monika