High Court Of Calcutta
CIT vs. Bank Of China (In Liquidation)
Section 261
Dipak Kumar Sen, Actg., C.J. & Shyamal Kumar Sen, J.
IT Ref. No. 182 of 1978
14th March, 1988
Counsel Appeared
S.K. Mitra & R.C. Prasad, for the Revenue : Ruma Pal, for the Assessee
DIPAK KUMAR SEN, ACTG. C.J.:
In this application, the CIT, West Bengal—IV, Calcutta, seeks a certificate from us that substantial questions of law of general public importance have arisen out of a judgment of this Court dt. 20th Feb., 1985, delivered in the above IT Ref. No. 182 of 1978, and that the same is a fit case for appeal to the Supreme Court.
2. The question which was referred at the instance of the Revenue before this Court in the reference is as follows :
“Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the control and management of the affairs of the assessee during the relevant previous year corresponding to the asst. yr. 1975-76 was situated wholly in India and, that therefore, the assessee should have been treated as a resident in India within the meaning of s. 6(3)(ii) of the IT Act, 1961 ?”
3. This Court has answered the question in favour of the assessee by considering the provisions of the Companies Act, 1956. The Tribunal found as a fact that the control and management of the affairs of the assessee in the instant case was in the hands of the liquidator. This Court affirmed such finding and has further noted that the control and management of the affairs of the company in liquidation is really vested in the High Court acting through the liquidator.
4. The above facts not being in dispute, no substantial question of law of public importance can be said to arise out of the said judgment dt. 20th Feb., 1985.
5. This application is, therefore, rejected.
6. The official liquidator is given liberty to retain the costs of this application out of the funds in his hands.
SHYAMAL KUMAR SEN, J.:
I agree.
[Citation : 174 ITR 176]
