Continental Construction Ltd. Vs. Cit

Continental Construction Ltd. vs Cit

Type Court Judgment Court Delhi Decided Aug 24, 2001

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Citation: sooperkanoon.com/710220
Court: Delhi High Court
Decided On: Aug 24, 2001
Case Number: Surtax Reference No. 1 of 1989 24 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

Continental Construction Ltd.

Advocate R.D. Jolly and; Ajay Jha, for the assesse

Respondent

Cit

Legal References

Reported In: [2001]119TAXMAN573(Delhi)

Excerpt

in the delhi high court arijit pasayat, c.j. & d.k. jain, j. - heard.2. the following question has been referred by the tribunal under section 18 of the companies (profits) surtax act, 1964 for opinion of this court :'whether, on the facts and in the circumstances of the case, the tribunal was right in adopting its findings in the income-tax matter of the assessed for the assessment year 1983-84?'3. the findings relating to the income-tax matter, as referred to in the question, related to the claim under section 80-o of the income tax act, 1961. it was held by this court in continental construction ltd. v. cit : [1990]185itr178(delhi) that the assessed's income for the relevant assessment year was not exempt under section 80-o. the said conclusion appears to have been approved by the apex court in continental construction ltd. v. cit (1992) 195 itr 811 .4. that being the position, the obvious answer to the question is in the affirmative, in favor of the revenue and against the assessed.5. reference is disposed of accordingly.

Full Judgment

Heard.

2. The following question has been referred by the Tribunal under section 18 of the Companies (Profits) Surtax Act, 1964 for opinion of this court :

'Whether, on the facts and in the circumstances of the case, the Tribunal was right in adopting its findings in the income-tax matter of the assessed for the assessment year 1983-84?'

3. The findings relating to the income-tax matter, as referred to in the question, related to the claim under section 80-O of the Income Tax Act, 1961. It was held by this court in Continental Construction Ltd. v. CIT : [1990]185ITR178(Delhi) that the assessed's income for the relevant assessment year was not exempt under section 80-O. The said conclusion appears to have been approved by the Apex Court in Continental Construction Ltd. v. CIT (1992) 195 ITR 811 .

4. That being the position, the obvious answer to the question is in the affirmative, in favor of the revenue and against the assessed.

5. Reference is disposed of accordingly.

Same Court & Year Delhi · 2001 Same Parties Continental Construction Ltd. vs Cit Same Subject Direct Taxation

Direct Taxation