1991 PLP 91 (PTD)
MASCOT (INDIA) TOOLS AND FORGINGS P. LTD. Versus COMMISSIONER OF INCOME-TAX
| Citation | 1991 PLP 91 (PTD) |
| Forum / Court | Allahabad High Court (India) |
| Bench Members | R.M. Sahai and R.P. Singh, JJ |
| Parties | MASCOT (INDIA) TOOLS AND FORGINGS P. LTD. Versus COMMISSIONER OF INCOME-TAX |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 1991 PLP 91 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1991 PLP 91 (PTD)?
The case was heard and decided by the Allahabad High Court (India) bench comprising: R.M. Sahai and R.P. Singh, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1991 PLP 91 (PTD) (MASCOT (INDIA) TOOLS AND FORGINGS P. LTD. Versus COMMISSIONER OF INCOME-TAX). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
Tribunal upholding order of Commissioner under S. 263, Indian Income-tax Act, 1961, whether justified and Tribunal doubting market value of plant and machinery ignoring material on record, whether justified, are questions of law fit to be referred. Whether the Tribunal was right in upholding the order of the Commissioner of Income-tax under section 263 of the Indian Income-tax Act, 1961, and whether the Tribunal's finding was vitiated in law in doubting the market value of plant and machinery without any material and ignoring materials on record, were questions of law fit to be referred.
Judgment & Decree
R. M. SAHAI, J.--Having heard learned counsel for the assessee and learned standing counsel for Income-tax Department, we are of the opinion that the following questions of law do arise out of the, order passed by the Income-tax Appellate Tribunal, Delhi Bench "B", New Delhi: "(1) Whether, on the facts and circumstances of the case, the Tribunal is right in upholding the order of Commissioner of Income-tax Meerut, under section 263 of the Income-tax Act, 1961? (2) Whether the Tribunal's finding is vitiated in law in doubting the market value of plant -and machinery without. any material and ignoring the materials on record?" We, accordingly, direct the Tribunal to draw up a statement of the case and submit the same to this Court. Z.S./778/T Order accordingly.