http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 1 of 8
PETITIONER: M. K. VENKATACHALAIVI, I. T. O. ANDANOTHER
Vs.
RESPONDENT: BOMBAY DYEING AND MFG. CO., LTD.
DATE OF JUDGMENT: 28/04/1958
BENCH: GAJENDRAGADKAR, P.B. BENCH: GAJENDRAGADKAR, P.B. AIYYAR, T.L. VENKATARAMA SARKAR, A.K.
CITATION: 1958 AIR 875 1959 SCR 703
ACT: Income-tax-Rectification of order of assessment--Amendment of law with retrospective enforcement-Error resulting from such enforcement, if an error apparent from the record-If such error can be rectified Indian Income-tax Act, 1922 (XI of 1922), ss. 18-A and 35-Indian Income-tax (Amendment) Act, 1953 (XXV Of 1953), ss. 1 and 13.
HEADNOTE: The Income-tax Officer, by his order dated October 9, 1952, assessed the respondent for the assessment year 1952-53 and gave him credit for Rs. 50,603-15-0 as representing interest on tax paid in advance under s. 18-A(5) of the Income-tax Act. On May 24, 1953, the Indian Income-tax (Amendment) Act, 1953, came into force adding a proviso to s.18-A(5) of the Act to the effect that the assessee was entitled to interest not on the whole of the advance tax paid by him but only on the difference between the payment made and the amount assessed. The Amendment Act provided that it shall be deemed to have come into force on April 1, 1952. The Income-tax Officer, acting under S. 35 of the Act, rectified the assessment order ...