The Commissioner of Income Tax (Central), Ludhiana v. M/s Rita Mechanical Works, Ludhiana
Case at a glance
- Decided
- 27 Oct 2006
- Bench
- ADARSH KUMAR GOEL, RAJESH BINDAL
Provisions considered
Judgment
Mr. S.K. Garg Narwana, Advocate for the revenue. ----- Following question of law has been referred for opinion of this Court by the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh arising out of its order dated 11.01.1995 in I.T.A. No.157/Chandi/90 in respect of assessment year 1985-86:-
Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in allowing the relief to the assessee holding that the first proviso to Section 43B inserted by the Finance Act, 1987 w.e.f. 1.4.1988 has retrospective application?
We find that the issue is covered against the revenue and in favour of the assessee by the judgment of Hon’ble Supreme Court in Allied Motors (P) Limited v. Commissioner of Income Tax 1997 (224) ITR 677. Following the above judgment of the Hon’ble Supreme Court, we have decided the issue against the revenue and in favour of the assessee vide our order dated 5.9.2006 in ITR No.94 of 1996, The Commissioner of Income tax (C), Ludhiana v. M/s Avery Cycle Inds. Pvt. Limited, Ludhiana.. Accordingly, the question is answered against the revenue and in favour of the assessee. ( ADARSH KUMAR GOEL ) JUDGE October 27, 2006 ashwani ( RAJESH BINDAL ) JUDGE
Questions this judgment answers
Which statutory provisions did this judgment involve?
Finance Act, 1987.
Which court decided this case, and when?
Punjab & Haryana High Court, on 27 Oct 2006. The bench was ADARSH KUMAR GOEL, RAJESH BINDAL.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.