1998 PLP 766 (PTD)
COMMISSIONER OF INCOME-TAX Versus BANARAS STATE BANK LTD.
| Citation | 1998 PLP 766 (PTD) |
| Forum / Court | 221 I T R 126 |
| Bench Members | Om Prakash and M. C. Agarwal, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus BANARAS STATE BANK LTD. |
| Primary Law | (a) Income-tax, (b) Income-tax |
Q1: What are the key laws and sections cited in 1998 PLP 766 (PTD)?
This judgment primarily cites: (a) Income-tax, (b) Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1998 PLP 766 (PTD)?
The case was heard and decided by the 221 I T R 126 bench comprising: Om Prakash and M. C. Agarwal, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1998 PLP 766 (PTD) (COMMISSIONER OF INCOME-TAX Versus BANARAS STATE BANK LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
Whether Tribunal justified in holding that no interest accrued to assessee on sticky advances
Is question of law to be referred
Indian Income Tax Act, 1961, S.256. Whether the Tribunal was justified in holding that no interest accrued to the assessee on sticky advances and whether it was justified in holding that the amount written off as bad debt is not includible for charging interest under the Interest Tax Act are questions to be referred.
Whether not includible for charging interest under Interest Tax Act
Is question of law to be referred
Indian Income Tax Act, 1961, S.256
Judgment & Decree
Whether Tribunal justified in holding that no interest accrued to assessee on sticky advances
Is question of law to be referred
Indian Income Tax Act, 1961, S.256. Whether the Tribunal was justified in holding that no interest accrued to the assessee on sticky advances and whether it was justified in holding that the amount written off as bad debt is not includible for charging interest under the Interest Tax Act are questions to be referred. (b) Income-tax
Whether not includible for charging interest under Interest Tax Act
Is question of law to be referred
Indian Income Tax Act, 1961, S.256
Indian Interest Tax Act, 1974. Raising identical questions, the Revenue made an application registered as I.T.A. No. 266 of 1993 relating to the assessment year 1984-85, which was decided by this Court by order, dated December 5, 1995. Following this Court's order dated December 5, 1995, in the aforesaid I.T.A. No.266 of 1993, we direct the Appellate Tribunal to draw up a statement of the case and refer the following questions to this Court for its opinion: "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that no interest was accrued to the assessee on sticky advances? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the amount written off as bad debt is not includible for charging interest under the Interest-tax Act? " The application is, therefore, allowed. M.B.A./1232/FC