2002 PLP 1094 (PTD)
COMMISSIONER OF INCOME-TAX Versus STELLER INVESTMENT LTD.
| Citation | 2002 PLP 1094 (PTD) |
| Forum / Court | 261 I T R 263 |
| Bench Members | S. P. Bharucha and Mrs. Ruma Pal, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus STELLER INVESTMENT LTD. |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 2002 PLP 1094 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2002 PLP 1094 (PTD)?
The case was heard and decided by the 261 I T R 263 bench comprising: S. P. Bharucha and Mrs. Ruma Pal, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2002 PLP 1094 (PTD) (COMMISSIONER OF INCOME-TAX Versus STELLER INVESTMENT LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Harish N. Salve, Solicitor-General of India (Nikhil Sakhardande and Mrs. Sushma Suri, advocates with him) for Appellant.
- M.L. Verma, Senior Advocate (Vinai Vasih, B.V. Desai and Santosh K. Aggarwal Advocates with him) for Respondent.
Headnotes / Summary
(Appeal by special leave from the judgment and order, dated April 16, 1991, of the Delhi High Court in I.T.C. No. 164 of 1990).
Subscribed capital
Tribunal finding not a device for converting black money into white with the help of investment company
No question of law arises
Indian Income Tax Act, 1961, S.256(2). From the decision of the High Court (see (1991) 192 ITR 287) declining to call for a reference from the decision of the Appellate Tribunal that the increase in subscribed capital of the respondent company could not be a device of converting black money into white with the help of formation of an investment company, on the ground that, even if it be assumed that the subscribers to the increased capital were not genuine, under no circumstances could the amount of share capital be regarded as undisclosed income, an appeal was taken by the Department to the Supreme Court. The Supreme Court dismissed the appeal holding that the Tribunal had come to a conclusion on facts and no interference was called for. CIT v. Stellar Investment Ltd (1991) 192 ITR 287 affirmed.
Judgment & Decree
(Appeal by special leave from the judgment and order, dated April 16, 1991, of the Delhi High Court in I.T.C. No. 164 of 1990).
Subscribed capital
Tribunal finding not a device for converting black money into white with the help of investment company
No question of law arises
Indian Income Tax Act, 1961, S.256(2). From the decision of the High Court (see (1991) 192 ITR 287) declining to call for a reference from the decision of the Appellate Tribunal that the increase in subscribed capital of the respondent company could not be a device of converting black money into white with the help of formation of an investment company, on the ground that, even if it be assumed that the subscribers to the increased capital were not genuine, under no circumstances could the amount of share capital be regarded as undisclosed income, an appeal was taken by the Department to the Supreme Court. The Supreme Court dismissed the appeal holding that the Tribunal had come to a conclusion on facts and no interference was called for. CIT v. Stellar Investment Ltd (1991) 192 ITR 287 affirmed. Harish N. Salve, Solicitor-General of India (Nikhil Sakhardande and Mrs. Sushma Suri, advocates with him) for Appellant. M.L. Verma, Senior Advocate (Vinai Vasih, B.V. Desai and Santosh K. Aggarwal Advocates with him) for Respondent. We have read the question which the High Court answered against the Revenue. We are in agreement with the High Court. Plainly, the Tribunal came to a conclusion on facts and no interference is called for. The appeal is dismissed. No order as to costs. M.B.A./1078/FC Appeal dismissed.