In Brief
Southern Sea Foods Ltd appealed against a High Court order concerning income tax matters. The Supreme Court, applying settled principles from Commissioner of Income Tax, Thiruvananthapuram v. Baby Marine Exports and the subsequent case of Commissioner of Income Tax, Karnal v. Dalbir Singh, allowed the appeal and set aside the High Court's order. The Court granted all consequential reliefs to the appellant, affirming that the tax assessment must accord with established Supreme Court precedent in income tax law.
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