Investments Pvt. Ltd v. D.s. Khoba & Ors.,[1997] 226 Itr 506. [1997] 226 Itr 506

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD INCOME TAX REFERENCE No. 60 of 1997 For Approval and Signature: HONOURABLE MR.JUSTICE D.A.MEHTASd/- HONOURABLE MR.JUSTICE Z.K.SAIYED Sd/- =================================================== 1[Whether Reporters of Local Papers ]NOmay be allowed to see the judgment ?2[To be referred to the Reporter or ]NOnot ?3[Whether their Lordships wish to see ]NOthe fair copy of the judgment ?Whether this case involves a substantial question of law as to 4theinterpretationofthe NOconstitution of India, 1950 or any order made thereunder ?5[Whether it is to be circulated to ]NOthe civil judge ?===================================================COMMISSIONER OF INCOME-TAX - Applicant(s)VersusSHREEJI SPICES MFG. CO. LTD. - Respondent(s) =================================================== Appearance : MR MANISH R BHATT for Applicant(s) : 1,SERVED BY RPAD - (N) for Respondent(s) : 1, =================================================== CORAM : HONOURABLE MR.JUSTICE D.A.MEHTA and HONOURABLE MR.JUSTICE Z.K.SAIYED Date : 05/03/2008 ORAL JUDGMENT (Per : HONOURABLE MR.JUSTICE D.A.MEHTA) (1)The Income-tax Appellate Tribunal, Ahmedabad Bench “C” has referred the following question under Section 256(1) of the Income-tax Act, 1961 (the Act), at the instance of the Commissioner of Income-tax, Ahmedabad: “Whether, the Appellate Tribunal is right in law and on facts in cancelling the order passed u/s.201(1) of the Act when the assessee company credited certain sums in respect of payable account instead of the respective individual accounts ?”payable account instead of the respective individual accounts ?” (2)Mr.M.R.Bhatt, learned Senior Standing Counsel for the applicant-revenue, has very fairly invited attention to the fact that the controversy brought before the Court by the aforesaid question stands concluded by a judgment of this Court in the case of Alkapuricontroversy brought before the Court by the aforesaid question stands concluded by a judgment of this Court in the case of Alkapuri Investments Pvt. Ltd. Vs. D.S. Khoba & Ors.,[1997] 226 ITR 506. [1997] 226 ITR 506. (3)Though served there is no appearance on behalf of the respondent-assessee.of the respondent-assessee. ITR/60/1997 3/3JUDGMENT (4)In light of the fact that the issue stands concluded by decision of this Court, it is not necessary to set out the facts and contentions in detail. For the reasons stated in judgment in the case of Alkapuri Investments Pvt. Ltd. (supra), the question is answered in the affirmative i.e. in favour of the assessee and against the revenue. The reference stands disposed of accordingly. There shall be no order as to costs. concluded by decision of this Court, it is not necessary to set out the facts and contentions in detail. For the reasons stated in judgment in the case of Alkapuri Investments Pvt. Ltd. (supra), the question is answered in the affirmative i.e. in favour of the assessee and against the revenue. The reference stands disposed of accordingly. There shall be no order as to costs. Sd/- [ D.A. MEHTA, J ] Bhavesh* *** Sd/- [Z.K. SAIYED, J ]