The Commissioner Of Income Tax v. M/S. Khosla Plastics Pvt. Ltd
High Court
06 Jul 2005 In favour of: Unclear
Forum / Bench
High Court · newos
Parties
The Commissioner Of Income Tax v. M/S. Khosla Plastics Pvt. Ltd
Date of order
06 Jul 2005
Assessment year(s)
—
Outcome
Other
Case summary
In The Commissioner Of Income Tax v. M/S. Khosla Plastics Pvt. Ltd, the High Court (2005) decided the matter.
Issue: The questions of law referred to this court for opinion under section256(1) of the Income-tax Act, by the Tribunal at the instance of theassessee are as follows: 1) Whether on the facts and in the circumstances of thecase, the Tribunal was right was justified in law inholding that the contribution o...
Decision: This reference stands disposed of accordinglywith no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICGTION
INCOME TAX REFERENCE NO. 709 of 1987
The Commissioner of Income Tax
... Applicant.
vs.
M/s. Khosla Plastics Pvt. Ltd., .... Respondent
Mr. Ashok Kotangale for Applicant.Mr. B. Vaidya i/b.S.N. Inamdar for Respondent.
CORAM:V.C.DAGA AND A. S. AGUIAR JJ.
Date: 6[th] July, 2005.
P. C.:
1. The questions of law referred to this court for opinion under section256(1) of the Income-tax Act, by the Tribunal at the instance of theassessee are as follows:
1) Whether on the facts and in the circumstances of thecase, the Tribunal was right was justified in law inholding that the contribution of rs.1,00,000/- andRs.2,500/- for Assessment Years 1978-79 and 1979-80respectively, by the assessee company to the
Employees' Welfare Fund Trust settled under anindenture dated 24.12.1977 is an allowable deductionunder section 37 of the Act, in computing the totalincome of the assessee company.
2.
Counsel for both sides agree that the question referred to
above for our opinion has already been followed in the case ofCommissioner of Income Tax vs. B.G.Shirke & Co., reported in[2003] 127 TAX,AM 245 (BOM.). In view of the above we answerthe abovequestion in the affirmative, in favour of the assessee andagainst the Revenue. This reference stands disposed of accordinglywith no order as to costs.
(V. C. DAGA J. )
(A. S. AGUIAR J.)
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