M/S GEMS & JEWELS vs. ASST COMMR. OF INCOME TAX

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ITA - 348 / 2002HC Delhi10 December 20021 pages
For Petitioner: PRASAD S., R GOPAL
AI SummaryPartly Allowed

What did the High Court hold?

The High Court of Delhi admitted the appeal, opining that the order of the Tribunal involved a substantial question of law. The specific question framed for adjudication is whether Rule 9B of the Income Tax Rules, 1962 is applicable to the reissue of rights in old films. The Court did not decide the merits of the appeal at this stage, but rather admitted it for further hearing. The stay application filed by the appellant was dismissed, indicating no interim relief was granted. The operative direction was to list the appeal for hearing in the regular course after the appellant files the paper book.

What were the facts?

The appeal is filed by M/s Gems & Jewels (the assessee) against an order of the Income Tax Appellate Tribunal (ITAT). The Revenue is represented by the Asst. Commr. of Income Tax. The specific assessment year(s) are not mentioned in the provided text. The High Court of Delhi admitted the appeal, framing a substantial question of law for adjudication. A stay application (CM.153/2002) was also filed by the appellant, which was dismissed.

What were the issues?

1. Whether Rule 9B of the Income Tax Rules, 1962 is applicable to the reissue of rights in old films? (Question of law) The assessee's contention is not explicitly recorded in the provided text. The revenue's contention is not explicitly recorded in the provided text. The High Court framed the question of law based on its view that the Tribunal's order involved a substantial question of law.

Which sections of the Income-tax Act were involved?

Rule 9B of the Income Tax Rules, 1962

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF DELHI AT NEW DELHI

ITA 348/2002

M/S GEMS & JEWELS ..... Appellant. Through Mr.Subramonium Prasad with Mr.Abhay Kumar & Mr.R.Gopal Krishnan. versus

ASST COMMR. OF INCOME TAX ..... Respondent Through Mr.R.D.Jolly.

CORAM: HON'BLE MR. JUSTICE D.K. JAIN HON'BLE MR. JUSTICE MAHMOOD ALI KHAN

O R D E R ----------- 10.12.2002

CM.154/2002 Allowed, subject to just exceptions. ITA No.348/2002 Having heard learned counsel for the parties, we are of the view that the order of the Tribunal does involve a substantial question of law. Admit. The following question is framed for adjudication: "Whether Rule 9B of the Income Tax Rules 1962 is applicable to the reissue of rights in old films?"

The appellant shall file within three months ten copies of the cyclostyled paper books, containing all documents on which reliance was placed by both the parties before the Tribunal. The appeal be listed for hearing in the regular course. CM.153/2002 There is no ground to stay the operation of the impugned order. Dismissed.

D.K. JAIN, J

MAHMOOD ALI KHAN, J DECEMBER 10, 2002 'ss'

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