Karnataka H.C : Whether, on the facts and in the circumstances of the case, particularly having regard to the changed provisions in the Karnataka Excise Act, 1965, especially the provisions of s. 24 of the said Act, the Tribunal was right in law in holding that ‘kist’ amount payable to the Government by the assessee could not be brought within the purview of the provisions of s. 43B of the IT Act, 1961 ?

High Court Of Karnataka

CIT vs. A. Janardhan Shetty

Section 43B

Asst. Year 1984-85

V.K. Singhal & T.N. Vallinayagam, JJ.

IT Ref. Case No. 835 of 1998

11th January, 2000

Counsel Appeared

M.V. Seshachala, for the Revenue

JUDGMENT

T.N. VALLINAYAGAM, J. :

The Tribunal has referred the following question of law arising out of its order dt. 25th Nov., 1994, pertaining to the asst. yr. 1984-85. “Whether, on the facts and in the circumstances of the case, particularly having regard to the changed provisions in the Karnataka Excise Act, 1965, especially the provisions of s. 24 of the said Act, the Tribunal was right in law in holding that ‘kist’ amount payable to the Government by the assessee could not be brought within the purview of the provisions of s. 43B of the IT Act, 1961 ?”

2. The question raised in the present matter is answered by this Court in CIT vs. D. Dasappa (2000) 163 CTR (Kar) 410 : (2000) 246 ITR 750 (Kar)—I.T.R.C. No. 5 of 1996, and other connected matters decided on 5th Jan., 2000. Accordingly, it is held that the Tribunal was justified in holding that kist amount payable to the Government by the assessee would not be brought within the purview of s. 43B of the IT Act.

Reference is answered in favour of the assessee and against the Revenue.

[Citation : 250 ITR 405]

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