Guwahati Court October 1992 Judgments

Commissioner of Income-tax Vs. Arunachal Pradesh Forest Corporation Lt ...

Court: Guwahati

U.L. Bhat, C.J.1. The following question has been referred under Section 256(1) of the Income-tax Act, 1961, by the Commissioner of Income-tax, North Eastern Region, Shillong, at the instance of the Revenue : ' Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the kist money of Rs. 24,02,920 received by the assessee is not to be assessed in the hands of the assessee with the finding that the assessee had simply collected the money and paid the same back to the State Government, although the assessee did not itself leave the coupe to others, as the lease was given by the State Government prior to 15-12-1977?'2. We have heard Shri D. K, Talukdar for the Revenue and Shri A. K. Saraf, for the respondent, M/s. Arunachal Pradesh Forest Corporation Ltd.3. The respondent-Corporation came into existence on March 31, 1977, having been created by the Arunachal Pradesh Government. There was an understanding between the State Government and the ...