1991 PLP 79 (PTD)
HIGHWAY CYCLE INDUSTRIES LTD. Versus COMMISSIONER OF INCOME-TAX
| Citation | 1991 PLP 79 (PTD) |
| Forum / Court | Punjab and Haryana High Court (India) |
| Bench Members | Gokal Chand Mital and S.S. Sodhi, JJ |
| Parties | HIGHWAY CYCLE INDUSTRIES LTD. Versus COMMISSIONER OF INCOME-TAX |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 1991 PLP 79 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1991 PLP 79 (PTD)?
The case was heard and decided by the Punjab and Haryana High Court (India) bench comprising: Gokal Chand Mital and S.S. Sodhi, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1991 PLP 79 (PTD) (HIGHWAY CYCLE INDUSTRIES LTD. Versus COMMISSIONER OF INCOME-TAX). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
Computation of taxable income
Surtax is not deductible
Indian Income-tax Act, 1961, S.37. Held, that the Tribunal was right in law in confirming the disallowance of the assessee's claim for surtax paid while computing its taxable income for the assessment year 1974-75. Simon Carves India Ltd. v. C.I.T. (1988) 173 ITR 660 (Cal.); S.L.M. Maneklal Industries Ltd. v. C.I.T. (1988) 172 ITR 176 (Guj.) and Organon (India) Ltd. v. CIT (1988) 172 ITR 354 (Cal.) fol. B.S. Gupta and Sanjay Bansal for the Assessee. Ashok Bhan and Ajay Mittal for the Commissioner.
Judgment & Decree
GOKAL CHAND MITAL J.--The Income-tax Appellate Tribunal, Amritsar, has referred the following question for the opinion of this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in confirming the disallowance of the assessee's claim for surtax liability while computing its taxable income for the assessment year 1974-757" The matter is answered in favour of the Revenue and against the l assessee by a large number of decisions of various High Courts and the latest three decisions are Simon Carves India Ltd. v. CIT (198$) 173 ITR 660 (Cal), S.L.M. Maneklal Industries v. CIT (1958) 172 1TR 176 (Guj) and Organon (India) Ltd. v. CIT (19888) 172 ITR 354 (Cal.). Following the law laid down in these three decisions, we answer the question in the affirmative leaving the parties to bear their own costs. Z.S./783/T Question answered in the affirmative.