Rc/11/2004 Of Commissioner Of Income Tax v. M/S. Sri Krishna Oil Co. Ltd

THE HON’BLE SRI JUSTICE DILIP B.BHOSALEANDTHE HON’BLE SRI JUSTICE A.RAMALINGESWARA RAO REFERRED CASE No.11 of 2004 ORDER:(per the Hon’ble Sri Justice Dilip B.Bhosale) This Referred Case was registered in view of the reference madeby the Income Tax Appellate Tribunal, Hyderabad Bench ‘A’ on07.01.2003. It pertains to the assessment year 1981-82 to 1983-84. Thequestion referred reads thus. “ Whether on the facts and in the circumstances of the case, theAppellate Tribunal was correct in holding that the lump sum paymentby the assessee to M/s.Trade McNair of USA was not taxable underS.9 (1) (i) read with proviso and explanation 1 thereunder, even thoughthe agreement was neither approved by the Central Government before1-4-1976 nor was the agreement entered in accordance with proposalsapproved by the Govt. before 1-4-1976?” 2. Till today, the Revenue has not taken steps, despite severalopportunities to place all annexures on record nor have they taken anysteps to serve the respondent assessee. 3. In the circumstances, we are constrained to dismiss thisReferred Case for non-prosecution. Order accordingly. There shall beno order as to costs. ______________________ DILIP B.BHOSALE, J ______________________________ A.RAMALINGESWARA RAO, J