2001 PTD 2617 (PLP)
COMMISSIONER OF INCOME-TAX Versus ABHIJIT IRON PROCESSORS (PVT.) LTD. (NO.3)
| Citation | 2001 PTD 2617 (PLP) |
| Forum / Court | 248 I T R 109 |
| Bench Members | B.N. Kirpal and S. Rajendra Babu, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus ABHIJIT IRON PROCESSORS (PVT.) LTD. (NO.3) |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 2001 PTD 2617 (PLP)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PTD 2617 (PLP)?
The case was heard and decided by the 248 I T R 109 bench comprising: B.N. Kirpal and S. Rajendra Babu, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PTD 2617 (PLP) (COMMISSIONER OF INCOME-TAX Versus ABHIJIT IRON PROCESSORS (PVT.) LTD. (NO.3)). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- R. N. Trivedi, Tara Chandra Sharma, Ms. Sushma Suri and Shaikumar Dwivedi, Advocates for Appellant.
- V. V. Lalit, Advocate for Respondent.
Headnotes / Summary
(Appeal by special leave from the judgment and order, dated April 17, 1998, of the Bombay High Court in I.T.A No.67 of 1996).
New industrial undertaking-- -Computation of total income for purposes of calculating special deduction under S.80-1-- Interest income whether includible
Indian Income Tax Act, 1961, Ss.80-I & 256(2). Held, that the question whether the Tribunal was justified in law in upholding the order of the Commissioner of Income-tax (Appeals) in directing the Assessing Officer to include interest income in the gross total income while computing the deduction under section 80-I of the Income Tax Act, 1961, was a question of law.
Judgment & Decree
‑‑‑‑Reference‑‑Special deduction‑‑‑New industrial undertaking‑‑ ‑Computation of total income for purposes of calculating special deduction under S.80‑1‑‑ Interest income whether includible ‑‑‑Question of law‑‑‑Indian Income Tax Act, 1961, Ss.80‑I & 256(2). Held, that the question whether the Tribunal was justified in law in upholding the order of the Commissioner of Income‑tax (Appeals) in directing the Assessing Officer to include interest income in the gross total income while computing the deduction under section 80‑I of the Income Tax Act, 1961, was a question of law. R. N. Trivedi, Tara Chandra Sharma, Ms. Sushma Suri and Shaikumar Dwivedi, Advocates for Appellant. V. V. Lalit, Advocate for Respondent. ORDER . Leave granted. After hearing learned counsel for the parties, we direct the Tribunal to state the case and refer the following question of law to the High Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in upholding the order of the Commissioner of Income‑tax (Appeals) in directing the Assessing Officer to include interest income in the gross total income while computing the deduction under section 80‑I of the Income Tax Act, 1961? The appeal is allowed in the aforesaid terms. No costs. M.B.A./940/FC Appeal allowed.