Adminitrator Of Thepecified Undertaking Of Unit Trut Of India vs B.M. Malani & Ors.

Authority: Supreme Court Date: 2007-10-11 Section: 226(3) Acts: Income Tax Act 1961, Constitution of India Result: Assessee Citation: (2007) 212 CTR (SC) 425 : (2008) 296 ITR 31 (SC) : (2007) 164 TAXMAN 463 (SC) Justices: S.B. Sinha & H.S. Bedi, JJ. Appeal No: Civil Appeal Nos. 4792 to 4799 of 2007*
Whether the Unit Trust of India could validly sell the assessee's units under Section 226(3) of the Income Tax Act without the assessee's consent when the money was not yet due to the assessee --- Held No. Whether the assessee was entitled to the redemption value at face value (Rs. 10 per unit) and dividends --- Held Yes.

šŸ”’ Direct Access Blocked

For your security and to prevent unauthorized automated access, individual judgment links cannot be opened directly. Please access this content via Google Search or the TaxPundit Search Portal.

AI Deep Dive
0/5 selected

Membership Required

Unlock official PDFs for all landmark cases.

JOIN NOW āž”
Shopping Cart