Dy. Commissioner of Income Tax Vs. State Bank of India and ors. - Court Judgment

Excerpt:

.....or the multiplicand having regard to the circumstances of the case and capitalising the multiplicand by an appropriate multiplier. the choice of the multiplier is determined by the age of the deceased (or that of the claimants whichever is higher) and by the calculation as to what capital sum, if invested at a rate of interest appropriate to a stable economy, would yield the multiplicand by way of annual interest. in ascertaining this, regard should also be had to the fact that ultimately the capital sum should also be consumed up over the period for which the dependency is expected to last. deceased aged 43 years at time of accident and was hawker. multiplier of 10 and rate of interest @ 6% p.a. would be appropriate and not multiplier of 15 and interest rate @ 9% p.a. fixed by high court. compensation was determined at rs.2,00,000/- with interest at 6% p.a. .....as possible, preferably within a period of three months from that date. thereafter, on an application for extension of time, this court by its order dated 26.2.2009 extended the time for a further period of three months and the same is stated to have been expiring on 1.6.2009.2. now, by way of present interlocutory applications, being i.a. no. 9- 11 of 2009 in c.a. nos. 7269-7271/2008, ia nos. 11-15 in c.a. nos. 7272-7276/2008 & i.a. nos. 9-12/2009 in c.a. nos. 326-329/2008, prayer has been made for extension of time mentioned in para 47 of the aforesaid judgment dated 3.12.2008 by a further period of three months from the date of the final order passed by the cit (a) in the appeals for assessment year 1992-93 and assessment year 1993- 94 in the cases of the assessee.3. after hearing mr. parag p. tripathi, learned additional solicitor general and mr. k.k. venugopal, learned senior counsel appearing for the opposite party, the aforesaid interlocutory applications seeking extension of time are partly allowed and the concerned commissioner of income tax is directed to dispose of the appeals pending before him within a period of four months from this date, without granting.....

Judgment:

ORDER

1. This Court disposed of the Civil Appeals by judgment dated 3.12.2008 reported in : [2009]308ITR1(SC) , by which, in para 47 of the said Judgement, the Special Court was requested to decide the issues mentioned in para 45 of the said Judgment, as expeditiously as possible, preferably within a period of three months from that date. Thereafter, on an application for extension of time, this Court by its order dated 26.2.2009 extended the time for a further period of three months and the same is stated to have been expiring on 1.6.2009.

2. Now, by way of present Interlocutory applications, being I.A. No. 9- 11 of 2009 in C.A. Nos. 7269-7271/2008, IA Nos. 11-15 in C.A. Nos. 7272-7276/2008 & I.A. Nos. 9-12/2009 in C.A. Nos. 326-329/2008, prayer has been made for extension of time mentioned in para 47 of the aforesaid judgment dated 3.12.2008 by a further period of three months from the date of the final order passed by the CIT (A) in the Appeals for Assessment Year 1992-93 and Assessment Year 1993- 94 in the cases of the assessee.

3. After hearing Mr. Parag P. Tripathi, learned Additional Solicitor General and Mr. K.K. Venugopal, learned Senior Counsel appearing for the opposite party, the aforesaid Interlocutory Applications seeking extension of time are partly allowed and the concerned Commissioner of Income Tax is directed to dispose of the appeals pending before him within a period of four months from this date, without granting unnecessary adjournment to either of the parties.

4. List the rest of the matters in last week of August, 2009.