2001 PLP 1974 (PTD)
COMMISSIONER OF INCOME-TAX Versus NATIONAL AGRICULTURAL CORPORATION
| Citation | 2001 PLP 1974 (PTD) |
| Forum / Court | 246 I T R 486 |
| Bench Members | S.P. Bharucha, S.S.M. Quadri and Shivaraj V. Patil, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus NATIONAL AGRICULTURAL CORPORATION |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 2001 PLP 1974 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PLP 1974 (PTD)?
The case was heard and decided by the 246 I T R 486 bench comprising: S.P. Bharucha, S.S.M. Quadri and Shivaraj V. Patil, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PLP 1974 (PTD) (COMMISSIONER OF INCOME-TAX Versus NATIONAL AGRICULTURAL CORPORATION). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- H.N. Salve, Solicitor-General (S. Rajappa, B.V.B. Das and S.K. Dwivedi, Advocates with him) for Appellant.
- G. Umapathy and Rakesh Kr. Sharma, Advocates for Respondent.
- H.N. Salve, Solicitor‑General (S. Rajappa, B.V.B. Das and S.K. Dwivedi, Advocates with him) for Appellant.
Headnotes / Summary
(Appeal by special leave from the judgment and order, dated February 1, 1999, of the Delhi High Court in I.T.R. No. 227 of 1978).
Law applicable
Amendment of S.80-P(2)(a)(iii) with retrospective effect
Order passed by High Court in reference subsequent to amendment not taking note of amendment
Writ petition challenging validity of amendment
Direction to High Court to consider reference afresh alongwith writ petition
Indian Income Tax Act, 1961, S.80-P
Constitution of India, Art.
226. On a reference of the question whether the assessee, a cooperative society, was entitled to deduction under section 80P(2)(a)(iii) of the Income Tax Act, 1961, in respect of profits derived by marketing agricultural produce of its members, the High Court held that it was. On appeal to the Supreme Court: Held, that the question basically was in regard to the retrospective operation of section 80P(2)(a)(iii) of the Income Tax Act, 1961, as amended by the Income-tax (Second Amendment) Act of 1998, with retrospective effect from April 1, 1968. The order under challenge, though subsequent to the date of the amendment, did not take note thereof. The, respondents had now filed a writ petition in, the High Court which challenged the validity of the said amendment. CIT v. National Agricultural Corporation Marketing Federation Ltd: (2000) 246 ITR 488 (Appex) set aside.
Judgment & Decree
On a reference of the question whether the assessee, a cooperative society, was entitled to deduction under section 80P(2)(a)(iii) of the Income Tax Act, 1961, in respect of profits derived by marketing agricultural produce of its members, the High Court held that it was. On appeal to the Supreme Court: Held, that the question basically was in regard to the retrospective operation of section 80P(2)(a)(iii) of the Income Tax Act, 1961, as amended by the Income‑tax (Second Amendment) Act of 1998, with retrospective effect from April 1, 1968. The order under challenge, though subsequent to the date of the amendment, did not take note thereof. The, respondents had now filed a writ petition in, the High Court which challenged the validity of the said amendment. CIT v. National Agricultural Corporation Marketing Federation Ltd: (2000) 246 ITR 488 (Appex) set aside. H.N. Salve, Solicitor‑General (S. Rajappa, B.V.B. Das and S.K. Dwivedi, Advocates with him) for Appellant. G. Umapathy and Rakesh Kr. Sharma, Advocates for Respondent. Leave granted. The notice that was issued on the special, leave petition stated that the matter might be disposed of at this stage by an order remitting the tax reference case to the High Court for being heard afresh. The question basically is in regard to the, retrospective operation of section 80P(2)(a)(iii) of the Income‑tax Act, as amended by the Second Amendment Act of 1998, with retrospective effect from 1st April, 1968. The order under challenge, though subsequent to the date of the amendment, does not take note thereof. The respondents have now filed a writ petition in the High Court (Writ Petition No. 1003 of 1999) which challenges the validity of the said amendment. It is, therefore, appropriate that the appeal be allowed, the order under appeal be set aside and this matter (I.T.R. No. 227 of 1978) be restored to the tile of the High Court to be heard and considered afresh, alongwith the writ petition. Order on the appeal accordingly. No order as to costs. M.B.A./504/FC ????????????????????????????????????????????????????????????????????????????????? Order accordingly.