Judgment Search Results Home > Cases Phrase: coking coal mines nationalisation act 1972 section 22 statement of accounts in relation to the period of management by the central government etc Court: income tax appellate tribunal itat kolkata

income-tax Officer Vs. East Indian Coal Co. Ltd

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2000)73ITD230(Kol.)

..... , the interest of rs. 67,49,553 cannot be treated as income accrued to the assessee; there being diversion of income by overriding charge created by the statutes [both the coal mines (nationalisation) act, 1973 and the coking coal mines (nationalisation) act, 1972]. we, therefore, do not see any infirmity in the orders of the cit(a). the appeals filed by the revenue are, therefore, dismissed. ..... incorporated under the u.k. companies act.it has coal mines in the state of bihar. the management of the coking coal mines was taken over by the central government on 17th october, 1971 and were thereafter nationalised on 1st may, 1972. in the case of non-coking coal mines, the management was taken over on 30th january, 1973 and nationalised on 1st may, 1973. under the aforesaid acts, assessee .....