Cit Vs. Bharat Commerce and Ind. Ltd.

Cit vs Bharat Commerce and Ind. Ltd.

Type Court Judgment Court Delhi Decided Aug 06, 2001

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Citation: sooperkanoon.com/710194
Court: Delhi High Court
Decided On: Aug 06, 2001
Case Number: IT Reference No. 228 of 1979 6 August 2001
Subject: Direct Taxation

Case Summary

AI-generated summary - not the official court judgment text.

In the Delhi High Court Arijit Pasayat, C.J. & D.K. Jain, J. -

Key legal issue: Direct Taxation

Parties & Advocates

Appellant / Petitioner

Cit

Advocate Sanjeev Khanna and; Prem Lata Bansal, for the Revenue,; Man

Respondent

Bharat Commerce and Ind. Ltd.

Legal References

Reported In: [2001]119TAXMAN480(Delhi)

Excerpt

in the delhi high court arijit pasayat, c.j. & d.k. jain, j. - arijit pasayat, c.j.pursuant to directions given by this court, the following question has been referred for opinion of this court under section 256(2) of the income tax act, 1961 (hereinafter referred to as the act) by the tribunal, delhi bench 'c' :'whether, on the facts and in the circumstances of the case, the tribunal was justified in cancelling the order passed by the income tax officer under section 154 for the assessment year 1962-63 by holding that there was no mistake apparent from record for action under section 154?'dispute relates to the assessment year 1962-63.2. though the question refers to the legality of the order under section 154, we find that the same is really of academic interest in view of the fact that for the assessment year in question, decision of the apex court in cit v. elecon engg. co. ltd. : [1987]167itr639(sc) would be applicable. thereforee, what the income tax officer had originally done is in line with the decision of the apex court. that being the position, the answer to the question is really of academic interest. additionally, we find that the paper book has not been filed and nothing is on record except the statement of case. thereforee, we decline to answer the question and the reference is returned unanswered.

Full Judgment

Arijit Pasayat, C.J.

Pursuant to directions given by this court, the following question has been referred for opinion of this court under section 256(2) of the Income Tax Act, 1961 (hereinafter referred to as the Act) by the Tribunal, Delhi Bench 'C' :

'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in cancelling the order passed by the Income Tax Officer under section 154 for the assessment year 1962-63 by holding that there was no mistake apparent from record for action under section 154?'

Dispute relates to the assessment year 1962-63.

2. Though the question refers to the legality of the order under section 154, we find that the same is really of academic interest in view of the fact that for the assessment year in question, decision of the Apex Court in CIT v. Elecon Engg. Co. Ltd. : [1987]167ITR639(SC) would be applicable. thereforee, what the Income Tax Officer had originally done is in line with the decision of the Apex Court. That being the position, the answer to the question is really of academic interest. Additionally, we find that the paper book has not been filed and nothing is on record except the statement of case. thereforee, we decline to answer the question and the reference is returned unanswered.

Same Court & Year Delhi · 2001 Same Parties Cit vs Bharat Commerce and Ind. Ltd. Same Subject Direct Taxation

Direct Taxation