S.C : Was the Tribunal justified in holding that neither profit nor loss of the work was to be taken into account in the assessment of income ?

Supreme Court Of India

Tirath Ram Ahuja P. Ltd. vs. CIT

Sections 256, 256(2)

K. Jagannatha Shetty & Kuldip Singh, JJ.

Civil Appeal No. 244 of 1976

31st August, 1990

Counsel Appeared

S.C. Manchanda, for the Respondent : S.S. Jauhar, for the Petitioner

BY THE COURT :

The following question sought to be raised by seeking reference under s. 256(1) and (2) of the IT Act, 1961 : “Was the Tribunal justified in holding that neither profit nor loss of the work was to be taken into account in the assessment of income ? “The Tribunal and the High Court have rejected the reference and refused to call for the statement of the case with reference to the said question. We have perused the order of the Tribunal. The Tribunal was of the opinion that the question does not arise out of the order of the Tribunal as it is a pure finding of fact. Whether any profit or loss has to be taken into account, the Tribunal said, is based on an appreciation of facts placed before the Tribunal and can, in no circumstances, give rise to a question of law. The High Court was also of the same view. In spite of our anxious consideration to the question raised, we are unable to disagree with the conclusion of the Tribunal. The appeal, therefore, is dismissed, but there will be no order as to costs.

[Citation : 186 ITR 428]

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