R.J. Wood vs Cit
2001 Latest Caselaw 1843 Del

JUDGMENT

The Tribunal referred for decision the following questions :

"1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessed was owner of the property?

2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in rejecting the alternative contention of the assessed that the lease in any event be treated as monthly loans in the absence of registration under the Indian Registration Act?"

2. Question No. 1 stands covered by a decision of the Apex Court in the case of CIT v. Podar Cement (P) Ltd. (1997) ITR 625 (SC). Following the said decision, the question No. 1 referred to is answered in favor of the assessed and against the revenue. In this view of the matter, it is not necessary to answer the second question.

2. Question No. 1 stands covered by a decision of the Apex Court in the case of CIT v. Podar Cement (P) Ltd. (1997) ITR 625 (SC). Following the said decision, the question No. 1 referred to is answered in favor of the assessed and against the revenue. In this view of the matter, it is not necessary to answer the second question.