Commissioner Of Income Tax v. Surat Dist. Co.op. Milk Producers Union Ltd

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD INCOME TAX REFERENCE No 151 of 1992 For Approval and Signature: Hon'ble MR.JUSTICE M.S.SHAH and Hon'ble MR.JUSTICE D.A.MEHTA ============================================================ 1. Whether Reporters of Local Papers may be allowed : NO to see the judgements? 2. To be referred to the Reporter or not? : NO 3. Whether Their Lordships wish to see the fair copy : NO of the judgement? 4. Whether this case involves a substantial question : NO of law as to the interpretation of the Constitution of India, 1950 of any Order made thereunder? 5. Whether it is to be circulated to the Civil Judge? : NO -------------------------------------------------------------- COMMISSIONER OF INCOME TAX Versus SURAT DIST. CO.OP. MILK PRODUCERS UNION LTD. -------------------------------------------------------------- Appearance: 1. INCOME TAX REFERENCE No. 151 of 1992 MR MIHIR H JOSHI with MR MANISH R BHATT for Petitioner NOTICE SERVED for Respondent No. 1 -------------------------------------------------------------- CORAM : MR.JUSTICE M.S.SHAH and MR.JUSTICE D.A.MEHTA Date of decision: 16/10/2001 ORAL JUDGEMENT (Per : MR.JUSTICE M.S.SHAH) �In this reference at the instance of the revenue, the following question is referred for the opinion of this Court in respect of assessment year 1979-80 :- "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was eligible to relief u/s. 80P(2)(d) of the Act on interest of Rs.3,37,635/- received from the other Co-operative Societies without taking into account that a sum of Rs.4,22,254/- was paid by the assessee, as interest, to other Co-operative societies ?" 2.�We have heard Mr Mihir H Joshi, learned counsel for the revenue. Though served, none appears for the respondent-assessee. for the revenue. Though served, none appears for the 3.�Our attention has been invited to the decision of this Court in the case of this very assessee in 211 ITR 726 and the decision dated 15.4.1998 in Income-tax this Court in the case of this very assessee in 211 ITR 726 and the decision dated 15.4.1998 in Income-tax Reference No. 26 of 1987, also in the case of this very assessee. 4.�Following the aforesaid decisions, we leave the question unanswered with a direction to the Tribunal to decide the question on merits after considering the relevant facts and by applying the ratio laid down by the Supreme Court in its decision in Cambay Electric Supply Industrial Co. Ltd. vs. CIT reported in 113 ITR 84. Following the said decisions, the question referred to this Court is left unanswered leaving it open to decide the question on merits after considering the relevant facts in light of the ratio of the decision of the Supreme Court in Cambay Electric Supply Industries Co. Ltd., reported in 113 ITR 84 and earlier decision of this Court in assessee's own case. 5.�The reference stands disposed of accordingly with no order as to costs. �����(M.S. Shah, J.) �����(D.A. Mehta, J.) sundar/-