Commissioner Of Income-Tax vs P.N.B. Finance And Industries ...
1989 Latest Caselaw 576 Del

Citation : 1989 Latest Caselaw 576 Del
Judgement Date : 5 December, 1989

Delhi High Court

Commissioner Of Income-Tax vs P.N.B. Finance And Industries ... on 5 December, 1989

Equivalent citations: 1990 185 ITR 3340 Delhi

Author: Kirpal

Bench: B Kirpal, C Chaudhary

JUDGMENT

Kirpal, J.

1. The assessment year involved in this case is 1976-77. We have heard counsel for the parties and we are of the opinion that questions of law do arise in this case.

2. We, therefore, direct the Tribunal to state the case and refer the following questions of law to this court :

"1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the amount of Rs. 17,50,000 was an admissible deduction in terms of section 36 of the Income-tax Act, 1961 ?

2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the amount of Rs. 70,00,000 was advanced by the assessed in the ordinary course of lending business ?

3. Whether, on the facts and in the circumstances of the case, is not the order of the Tribunal perverse ?

4. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing the claim of Rs. 37,977 ?"

3. There will be nor order as to costs.

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Commissioner Of Income-Tax vs P.N.B. Finance And Industries ...
1989 Latest Caselaw 576 Del

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Commissioner Of Income-Tax vs P.N.B. Finance And Industries ...1989 Latest Caselaw 576 Del

LatestLaws Partner Event : Smt. Nirmala Devi Bam Memorial International Moot Court Competition

Commissioner Of Income-Tax vs P.N.B. Finance And Industries ...
1989 Latest Caselaw 576 Del