2014 (5) TMI 197

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he respondent BARIN GHOSH, C.J. (Oral) The matters in these two appeals are identical and, accordingly, are dealt with by the following common judgment. 2. The Bombay High Court rendered its judgment in Commissioner of Income Tax versus Ronuk Industries Limited, reported in 333 ITR 99 (Bombay) on 22nd November, 2010 and, thereby, repeated its decision rendered in the case of Narang Overseas Pri .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... stries Limited and, secondly, a statutory authority, which has been granted statutory power, can exercise such power within the four corners of the statute granting such power and in the instant case as on the date when the Tribunal exercised the power of extending stay of demand beyond 365 days, the power of the Tribunal to do so was withdrawn by inserting the proviso in question in the statute. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X