The genesis of the stay provision contained in Section 254 of the Income Tax Act is in the celebrated judgment of this Court in Income Tax Officer v. M.K. Mohammed Kunhi (1969) 2 SCR 65. In this judgment, Section 254 of the Income Tax Act, as originally enacted, came up for consideration before Supreme Court. […]
DCIT V PEPSI FOODS LTD [2021] 126 taxmann.com 69 (SC)
The appeals before the SC raised an important question as to the constitutional validity of the third proviso to Section 254(2A) of the IT Act. The assessee filed a return of income for the AY 2008-2009 declaring a total income of INR 92,54,89,822. A final assessment order was passed on 19.10.2012, which was adverse to […]