Cit Vs. Bir Bros

Cit vs Bir Bros

Type Court Judgment Court Delhi Decided Oct 05, 2001

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Citation: sooperkanoon.com/710337
Court: Delhi High Court
Decided On: Oct 05, 2001
Case Number: Surtax Reference No. 5 of 1997 5 October 2001
Subject: Direct Taxation

Case Summary

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

In the Delhi High Court Arijit Pasayat, C.J. & S.K. Agarwal, J. -

Key legal issue: Direct Taxation

Parties & Advocates

Appellant / Petitioner

Cit

Advocate R.C. Pandey and; Ms. Prem Lata Bansal, for the Applicant

Respondent

Bir Bros

Legal References

Reported In: [2001]120TAXMAN885(Delhi)

Excerpt

in the delhi high court arijit pasayat, c.j. & s.k. agarwal, j. - heard.2. following question has been referred for opinion of this court under section 18 of the companies (profits) surtax act, 1964 (hereinafter referred to as the act'), read with section 256(1) of the income tax act, 1961 by the tribunal, delhi bench a :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the gross amount of dividends amounting to rs. 15,272 should be deducted from the total income of the assessed, in arriving at the chargeable profits under rule 1 (viii) of the first schedule of the companies (profits) surtax act, 1964 ?'3. we need not go into the factual aspects in detail, in view of the decision of the apex court in cit v. sundaram industries (p) ltd. (2001) 248 itr 179 . in view of the said decision, the answer to the question referred is in the negative, in favor of the revenue and against the assessed.4. surtax reference is, accordingly, disposed of.

Full Judgment

Heard.

2. Following question has been referred for opinion of this court under section 18 of the Companies (Profits) Surtax Act, 1964 (hereinafter referred to as the Act'), read with section 256(1) of the Income Tax Act, 1961 by the Tribunal, Delhi Bench A :

'Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the gross amount of dividends amounting to Rs. 15,272 should be deducted from the total income of the assessed, in arriving at the chargeable profits under rule 1 (viii) of the First Schedule of the Companies (Profits) Surtax Act, 1964 ?'

3. We need not go into the factual aspects in detail, in view of the decision of the Apex court in CIT v. Sundaram Industries (P) Ltd. (2001) 248 ITR 179 . In view of the said decision, the answer to the question referred is in the negative, in favor of the revenue and against the assessed.

4. Surtax reference is, accordingly, disposed of.

Same Court & Year Delhi · 2001 Same Parties Cit vs Bir Bros Same Subject Direct Taxation

Direct Taxation