C.I.T,JLDHR vs. M/S KRISHNA & CO. BHTDA

ITR/63/1992HC Punjab & HaryanaPHHC01022010199219 October 2006Author: MR. JUSTICE K.S. GAREWAL,MR. JUSTICE RAJESH BINDAL2 pages
AI SummaryAllowed

What did the High Court hold?

The High Court, following the judgment of the Hon'ble Supreme Court in Allied Motors (P.) Ltd. v. Commissioner of Income-Tax, (1997) 224 ITR 677, answered the question against the Revenue and in favour of the assessee. The reasoning is that the Supreme Court's decision in Allied Motors (P.) Ltd. would have determined the correctness of the addition made under Section 43B concerning sales-tax liability. The Tribunal's deletion of the addition was thus upheld. The operative direction was to dispose of the reference in the manner indicated, which implies upholding the Tribunal's order.

What were the facts?

This case involves an Income Tax Reference filed by the Commissioner of Income-Tax, Jalandhar (the Revenue) against M/s Krishna & Co., Bhatinda (the assessee). The reference arises from an order of the Income-tax Appellate Tribunal, Amritsar Bench, concerning the assessment year 1984-85. The Assessing Officer had made an addition of Rs. 1,76,022/- on account of sales-tax liability. The Tribunal deleted this addition. The Revenue has sought a reference to the High Court on a question of law pertaining to this deletion.

What were the issues?

1. Whether on the facts and in the circumstances of the case, the Tribunal was right in law in deleting the addition of Rs. 1,76,022/- on account of sales-tax liability, made by the Assessing Officer under Section 43B of the Act as amended by the Finance Act, 1987? Assessee's contentions: Not recorded. Revenue's contentions: The Revenue submitted that the issue is squarely covered by the judgment of the Hon'ble Supreme Court in Allied Motors (P.) Ltd. v. Commissioner of Income-Tax, (1997) 224 ITR 677.

Which sections of the Income-tax Act were involved?

Section 43B,Section 256(1)

AI-generated summary — verify with the full judgment below

I.T.R.No.63 of 1992 [1] IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH I.T.R.No.63 of 1992 Date of decision: 19.10.2006 The Commissioner of Income-Tax, Jalandhar ..Applicant through

Dr. N.L.Sharda, Advocate v. M/s Krishna & Co. Kikkar Bazar, Bhatinda ..Respondent through Nemo CORAM: Hon'ble Mr.Justice K.S.Garewal Hon'ble Mr.Justice Rajesh Bindal

1.

Whether Reporters of local papers may be allowed to see the judgment ?

2.

To be referred to the Reporters or not ?

3.

Whether the judgment should be reported in the Digest? Rajesh Bindal, J. At the instance of the Revenue, the Income-tax Appellate Tribunal, Amritsar Bench (for short, `the Tribunal') has referred, under Section 256(1) of the Income-tax Act, 1961 (for short, `the Act'), the following question for the opinion of this Court arising out of ITA No. 128(ASR)/1987, pertaining to the assessment year 1984-85: “Whether on the facts and in the circumstances of the case, the Tribunal was right in law in deleting the addition of Rs. 1,76,022/- on account of sales-tax liability, made by the Assessing Officer under Section 43B of the Act as amended by th

The order continues below.

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