(Dipak Misra and R. Banumathi, JJ.)
Diamond Investment & Properties ______________________ Appellant
v.
Income Tax Officer, Mumbai _________________________ Respondent
Civil Appeal No. 6559 of 2015 [Arising out of S.L.P. (C) No. 24346 of 2015 CC 19339/14], decided on August 24, 2015
The Order of the court was delivered by
Order
1. Delay condoned.
2. Leave granted.
3. Heard Mr. Parcival Billimoria, learned counsel for the appellant and Mr. Ranjit Kumar, learned Solicitor General for the respondent.
4. Having heard learned counsel for the parties, we are of the considered opinion that the High Court should have framed the substantial question of law pertaining to the issue whether in the facts and circumstances of the case, the assessee had taken recourse to any kind of colourable devise to evade the tax.
5. The appeal stands allowed accordingly. No order as to costs.
I.A. No. 3 In Petition(s) for Special Leave to Appeal (C)……CC 19339/2014
Diamond Investment and Properties _____________________ Petitioner
v.
Income Tax Officer, Mumbai _______________________ Respondent
Date : 24/08/2015 This petition was called on for hearing today.
(Before Dipak Misra and R. Banumathi, JJ.)
For Petitioner(s) Mr. Parcival Billimoria, Adv.
Mr. Rajat Singh, Adv.
Mr. Samer V. Talwal, Adv.
Mr. Anupam Lal Das, AOR
For Respondent(s) Mr. Ranjit Kumar, S.G.
Mr. Arijit Prasad, Adv.
Mr. Swarupana Chaturvedi, Adv.
Mrs. Anil Katiyar, AOR
UPON hearing the counsel the Court made the following
Order
6. Delay condoned.
7. Leave granted.
8. The appeal is allowed in terms of the signed order.
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