Flowmore Pvt. Ltd. vs Commissioner Of Income-Tax
1990 Latest Caselaw 54 Del

JUDGMENT

B.N. Kirpal, J.

1. We have heard the parties and, in our opinion, the following question of proposed in this application should be stated by the Tribunal and referred to this court :

"(1) whether, on fact and in the circumstance of the case, the Hon'ble Tribunal was right in interpreting the contract for supply assembly, erection, commissioning and supervision of pump sets of Greaves Cotton and Madhya Pradesh State Electricity Board and for design manufacturing, testing at manufactures' works, dispatch and delivery at the site of butterfly valves as simple contract of sale' and not 'contracts of works' ?

(2) Whether, on the fact and in the circumstance of the cases, the Hon'ble Tribunal was correct in holding that the sale of pump sets and butterfly valves, according to the terms and condition of the contract, was complete, concurrently with the delivery ?

(3) whether the conclusion of the Tribunal that in respect of two contracts dated January 1, 1976 and July 23, 1978, with the Madhya Pradesh State Electricity Board and two contracts dated October 3, 1976, and September 8, 1977, with Greaves Cotton, the assessed had only sold goods and had not executed works contracts is based on evidence and materials, is not based on evidence and materials on record, is in utter disregard of the evidence and materials on record and is based on conjectures. And, therefore, the said conclusion is perverse and vitiated in law ?"

2. There will be no order as to costs.