D.b. Civil Miscellaneous Application v. M/S Vaibhav Gems

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH ATJAIPUR D.B. Civil Miscellaneous Application No. 35 / 2017Commissioner Of Income Tax Jaipur-Ii ----Petitioner Versus M/S Vaibhav Gems ----Respondent _____________________________________________________ For Petitioner(s) : Ms. Ishita Rawat for Mr. Gunjan PathakFor Respondent(s) : Mr. K.D. Mathur for Mr. R.B. Mathur _____________________________________________________ HON'BLE THE ACTING CHIEF JUSTICEHON'BLE MR. JUSTICE VINIT KUMAR MATHURJudgment / Order 20/02/2017 For the reasons mentioned in the application, the applicationis allowed. The order dated 18[th] January, 2017 is recalled. The appeal stands disposed off in terms of the order dated2[nd] November, 2016 in DB Income Tax Appeal No. 584/2009 (CITvs. Shri Abhay Godha) wherein it has been held:- “Considering the law declared by the SupremeCourt in the case of Vijay Proteins Ltd. Vs.Commissioner of Income Tax, Special Leave toAppeal (C) No.8956/2015 decided on06.04.2015 whereby the Supreme Court hasdismissed the SLP and confirmed the orderdated 09.12.2014 passed by the Gujarat HighCourt and other decisions of the High Court ofGujarat in the case of Sanjay Oilcake IndustriesVs. Commissioner of Income Tax (2009) 316 ITR274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T.,Tax Appeal No.240/2003 decided on 20.06.2016,the parties are bound by the principle of lawpronounced in the aforesaid three judgments.We remit back the case to the Assessing Officer for deciding afresh on the factual matrix. Theauthority will accept the law but the transactionwhether it is genuine or not will be verified bythe Assessing Officer on the basis of theaforesaid three judgments. The issues areanswered accordingly. The appeal is accordinglydisposed of.” The appeal is accordingly disposed off. (VINIT KUMAR MATHUR)J. (K.S. JHAVERI) ACTING CJ. A.Sharma/66