Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2005 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2005 (1) TMI 22 - HC - Income TaxQuestion of law - This is an application made by the Revenue consequent upon the rejection of their application made under section 256(1) by the Tribunal - question before the taxing authorities was whether a particular amount of royalty can be held or regarded as capital receipt in the hands of the assessee or it be taxed as revenue receipt - issue eventually was answered in favour of the assessee by the Tribunal holding the royalty amount in question to be in the nature of capital receipt. It is against this view, the Revenue when prayed to the Tribunal for making a reference to this court under section 256(1) of the Act, the Tribunal by the impugned order rejected the prayer saying that it is a question of fact and hence, not a fit case to refer. Applications are allowed. The Tribunal is directed to send the statement of case
|