Commissioner Of Income-Tax vs Deeksha Holdings Pvt. Ltd.
2000 Latest Caselaw 474 Del

JUDGMENT

1. In this application under Section 256(2) of the Income-tax Act, 1961, the Revenue seeks a direction to the Income-tax Appellate Tribunal to state the case and refer the following question, said to be one of law, in respect of assessment year 1986-87, for the opinion of this court :

"Whether on the facts and in the circumstances of the case, the Tribunal was right in law to hold that the sum of Rs. 55,45,658 received by the assessee-company as its share of shop deposits is not an income, which has been assessed by the Assessing Officer on protective basis ?"

2. Inspite of service of notice no one appears for the respondent. We have accordingly heard learned counsel for the Revenue.

3. Keeping in view the fact that a similar issue was the subject-matter of ITC No. 149 of 1992, pertaining to the immediately preceding assessment year, i.e., 1985-86, and a reference was called for in that case, we direct the Tribunal to state the case and refer the following question for the opinion of this court :

"Whether on the facts and in the circumstances of the case, the Tribunal was right in law to hold that the sum of Rs. 55,45,658 received by the assessee-company as its share of shop deposits is not its income ?"

4. The petition stands disposed of.