M/S GOLD TAX FURNISHING INDUSTRIES
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----------- 21.08.2002
Admit. The following substantial questions of law are framed for adjudication:
"
Whether the Income declared by the assessee of Rs.65,50,000 could validly be assessed as "income from other sources" instead of "income from business" as declared by the assessee?
Whether the Income Tax Appellate Tribunal was correct in law in upholding the disallowance of the claim of deduction u/s 80IA of the I.T.Act in respect of the income of Rs.65,50,000 declared u/s 132(4) of the I.T.Act at the time of search on 18.2.1993?"
Insofar as, proposed question No.1 is concerned, in view of our order passed today in ITA 80/2002, dismissing Revenue's appeal against the deletion of interest charged under Section 234B and 234C of the Act answer to the proposed question is of academic interest only and, therefore, the proposed question cannot be said to be a substantial question of law. The appellant shall file within three months ten copies of the cyclostyled paper books, containing all documents on which reliance was placed before the Tribunal, including any order/orders, either in the case of the assessee itself or in case of any other assessee, which has been followed by the Tribunal. The appeal be listed for hearing in the regular course.
D.K. JAIN, J
SHARDA AGGARWAL, J AUGUST 21, 2002 'ss'