9911796707
TMI Blog1997 (9) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... 56(1) of the Income-tax Act, 1961. In pursuance of the order passed by this court on September 14, 1994, in M. C. C. No. 636 of 1985 whereby a reference has been called for by the High Court at the instance of the assessee and the following question of law has been referred by the Tribunal for opinion of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urt went into all aspects of the question and held that the subsequent receiver was to pay the former receiver a sum of Rs. 97,818.19 after adjusting all the claims. The District Court directed this amount to be paid to the former receiver by the latter receiver with interest at the rate of 3 per cent. per annum from February 21, 1945, till the date of the order, namely February 21, 1963. In appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of law has been referred by the Tribunal for the opinion of this court. We have heard learned counsel for the Revenue and perused the records. We are of the opinion that the view taken by the Tribunal appears to be justified and there is no reason to take a different view from the view taken by the Tribunal. Hence, the aforesaid question is answered in favour of the Revenue and against the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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