Jhalani Construction (P) Ltd. vs Commissioner Of Income Tax
1987 Latest Caselaw 42 Del

Citation : 1987 Latest Caselaw 42 Del
Judgement Date : 20 January, 1987

Delhi High Court

Jhalani Construction (P) Ltd. vs Commissioner Of Income Tax on 20 January, 1987

Author: S Ranganathan

Bench: H Goel, S Ranganathan

JUDGMENT

S. Ranganathan, J.

1. After hearing the counsel for both the parties we are of the opinion that question No. 3 raised by the assessed raises a question of law and principle which has to be decided after the full facts are available particularly as the assessed's stand that the profits are taxable only after all the flats are constructed had been rejected and the income has been spread over 4 to 5 years. The basis on which this has to be done is a matter for examination.

2. We, therefore, direct the Tribunal to state a case and refer for the decision of this Court the following question :

"Whether, on the facts and in the circumstances of the case the assessed company would be entitled for the asst. yr. 1977-78 to the deduction of Rs. 97,600 towards lease execution expenses ?"

3. The application is disposed of. No costs.

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