2001 PLP 2622 (PTD)
COMMISSIONER OF INCOME‑TAX Versus ABHIJIT IRON PROCESSORS (P.) LTD'. (N0.2)
| Citation | 2001 PLP 2622 (PTD) |
| Forum / Court | 248 I T R 108 |
| Bench Members | S. P. Bharucha and S. S.M. Quadri, JJ |
| Parties | COMMISSIONER OF INCOME‑TAX Versus ABHIJIT IRON PROCESSORS (P.) LTD'. (N0.2) |
Q1: What are the key laws and sections cited in 2001 PLP 2622 (PTD)?
This judgment primarily cites: statutory provisions as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PLP 2622 (PTD)?
The case was heard and decided by the 248 I T R 108 bench comprising: S. P. Bharucha and S. S.M. Quadri, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PLP 2622 (PTD) (COMMISSIONER OF INCOME‑TAX Versus ABHIJIT IRON PROCESSORS (P.) LTD'. (N0.2)). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Headnotes / Summary
(a) Income‑tax‑‑ ‑‑‑‑Reference‑‑Special deduction‑‑‑New industrial undertaking ‑‑‑Interest‑‑ Interest income whether includible in gross income while computing special deduction under S.80‑I‑‑‑Question of law‑‑‑Indian Income Tax Act, 1961, Ss.80‑1 & 256(2). (b) Income‑tax‑‑‑ . ‑‑‑‑Reference‑‑‑Question not raised before Tribunal cannot be referred‑ Indian Income Tax Act, 1961, S.256(2). Held, (i) that the question 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 deduction under section 80‑I of the Income Tax Act, was a question of law to be referred to the High Court. CIT v. Jaiswal Chemicals (P.) Ltd. (2001) 248 ITR 106 (SC) fol. (ii) That no order requiring a reference was to be made in regard to the second‑question as it was not raised before the Tribunal.
Judgment & Decree
(ii) That no order requiring a reference was to be made in regard to the second‑question as it was not raised before the Tribunal. Leave granted. The civil appeals must be allowed, being covered in favour of the appellant by the order of this Court, dated October 1, 1999, in Civil Appeals Nos. 5671 and 5672 of 1999‑CIT v. Jaiswal Chemicals (P.) Ltd. (2001) 248 ITR
106. The appeals are, therefore, allowed and the Tribunal is directed to refer to the High Court for its consideration the following question: "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‑deduction under section 80‑I of the Act?" No order as to costs. Civil Appeal No.36 of 2000 (arising out of S.L.P. (C) No.9192 of 1999): Leave granted. The civil appeal must be allowed, being covered in favour of the appellant by the order of this Court, dated October 1, 1999, in Civil Appeals Nos. 5671 and 5672 of 1999‑‑‑CIT v. Jaiswal Chemicals (P.) Ltd. (2001) 248 ITR
106. The Tribunal is directed to refer w the High Court for its consideration the following question: "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 Act?" No order requiring a reference is made in regard to the second question as it was not raised before the Tribunal. The civil appeal is allowed to the aforestated extent. No order as to costs. M.B.A./939/FC Appeal allowed.