Law:

Section:

Section 60 of the Indian Income-tax Act, 1922 - Power to make exemption etc. - Assessee's claim for exemption was refused by Central Board of Revenue (i.e. Board) on grounds that conditions laid down in Notification No. 47 were not satisfied as assessee-company was holding shares in a group of companies and was engaged in acquiring or exercising control over other companies - On instant writ, it was, however, seen that no material was placed on record to show that assessee-company was in fact engaged in acquiring or exercising control over any other company or enabling other persons to acquire control over other companies - Moreover, impugned order passed by Board did not give any reason in support of its finding and certainly did not show that Board had applied its mind while passing order - Whether in aforesaid circumstances, order passed by Board was to be quashed and it was to be directed to consider matter afresh - Held, yes Circular and Notifications : Notification No. 47 dated 9-12-1933 FACTS Under section 60 of the 1922 Act, a statutory Notification No. 47 dated 9-12-1933, had been issued granting exemption from payment of super-tax under the circumstances specified in it. The petitioner-company applied to the Central Board of Revenue for exemption from payment of super-tax in pursuance of the aforesaid notification. This had been refused by the Central Board of Revenue, on the grounds that all the conditions laid down in the aforesaid notification had not been satisfied by the petitioner-company. The petitioner had filed writ petition challenging the impugned order on the grounds, inter alia, that the order of the Board was not a speaking order and did not give reasons for refusing the exemption and, secondly, that, on the merits of the case, the order was not sustainable in law. In the counter-affidavit, it had been urged by the CBDT that the petitioner-company had failed to satisfy condition No. (ii) mentioned in the statutory notification and so the application was refused. With regard to the non-speaking nature of the order, it was contended that the company did not co-operate with the Director of Inspection in arriving at the findings with regard…

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