Karnataka H.C : The surtax payable under the Companies (Profits) Surtax Act, 1964, was an inadmissible deduction in computing the total income of the applicant

High Court Of Karnataka

T.T. (P) Ltd. vs. CIT

Sections 37(1), 80J

K. Jagannatha Shetty & S.R. Rajasekhara Murthy, JJ.

IT Ref. Cases Nos. 76 & 77 of 1982

25th October, 1983

Counsel Appeared

G. Sarangan, for the Assessee : K. Srinivasan & H. Raghavendra Rao, for the Revenue

S. R. RAJASEKHARA MURTHY, J. :

The following two questions of law have been referred under s. 256(1) of the IT Act, 1961, by the Tribunal, Bangalore Bench, for the opinion of this Court :

” 1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the surtax payable under the Companies (Profits) Surtax Act, 1964, was an inadmissible deduction in computing the total income of the applicant ?

2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the assessee is entitled to the relief under s. 80J without restricting it on time basis ?”

The first question is completely covered by the decision of this Court in CIT vs. International Instruments (P) Ltd.(1984) 39 CTR (Kar) 182: ( 1983) 144 ITR 936(Kar) (IT Ref.Cases Nos. 109 and 110 of 1979, dated 14-9-1983). In view of the said decision, we answer the first question in the affirmative and against the assessee. The second question is covered by the decision of this Court in CIT vs. Mysore Petro Chemical Ltd. (1984) 39 CTR 177 (Kar) : (1984) 145 ITR 416 ( IT Ref.Case No.6 of 1983, dated 3-8-1983 1. In view of the said decision, we answer the second question in the affirmative and against the Revenue.

[Citation : 177 ITR 536]

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