# In the matter of Suraksha Realty Ltd. & Anr. vs. Deputy Commissioner of Income Tax & Anr.

> SC judgment dated 2024-04-15. Citation: TCN-2024-SC-00081. This is a civil appeal before the Supreme Court of India. The court is examining issues related to…

- **Court:** SC
- **Order date:** 15 Apr 2024
- **Citation:** TCN-2024-SC-00081
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/suraksha-realty-ltd-anr-vs-deputy-commissioner-of-income-tax-anr-61dafb83

## Summary

### Background

This is a civil appeal before the Supreme Court of India. The court is examining issues related to an assessment order. The case involves a housing project affecting approximately 20,000 home buyers, with some bookings dating back to 2008. The Corporate Insolvency Resolution Process commenced in 2017.

## Facts

Suraksha Realty Ltd. & Anr. filed a civil appeal against the Deputy Commissioner of Income Tax & Anr. The case concerns a housing project affecting about 20,000 home buyers, some of whom made bookings as early as 2008. The Corporate Insolvency Resolution Process commenced in 2017. The court is examining the validity of an assessment order, exercising its jurisdiction under Article 142 and Article 136 of the Constitution of India. The Chairperson of the Central Board of Direct Taxes is directed to examine the assessment order and file an affidavit within 25 days. The case is re-listed in the week commencing 13.05.2024. The resolution plan for construction of the housing project is at a standstill.

## Issues and analysis

### Issue 1: Whether the assessment order is valid, considering the court's jurisdiction under Article 142 and …

**Ratio:** The Supreme Court has the power to exercise its jurisdiction under Article 142 and

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**Reasoning:** The court is examining the validity of the assessment order because it has the power to

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**Interpretation:** Article 142 grants the Supreme Court the power to pass decrees or orders

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**Application:** The court's examination of the assessment order under Article 142 and Article

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## Parties

- **Judges:** SANJIV K…; DIPANKAR…
- **Appellants:** Suraksha Realty…
- **Respondents:** Deputy Commissione…

## Timeline

- **2008-01-01 — Home Buyer B…**: Some home buyers made…
- **2017-01-01 — CIRP Commen…**: The Corporate Insolvency…

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