REGENT COMPUTRONICS PVT. LTD.

COMMISSIONER OF INCOME TAX Appellant

V/S

QUANTAS AIRWAYS LTD. Respondents

Referred Judgements :-

CIT VS. TATA LOCOMOTIVE AND ENGINEERING CO. LTD. [REFERRED TO (SC) : TC 13R.387]
SUTLEJ COTTON MILLS LTD. VS. CIT [REFERRED TO]
COMMISSIONER OF INCOME TAX PUNJAB IN BOTH APPEALS VS. R D AGGARWAL AND CO [REFERRED TO (SC) : TC 39R.1098]
CARBORANDUM AND COMPANY VS. COMMISSIONER OF INCOME TAX MADRAS [REFERRED TO : (1977) 108 ITR 335 (SC) : TC 39R.1145]
CAMBAY ELECTRIC SUPPLY INDUSTRIAL COMPANY LIMITED VS. COMMISSIONER OF INCOME TAX GUJARAT II AHMEDABAD [REFERRED TO : (1978) 113 ITR 84 (SC) : TC 25R.306]
COMMISSIONER OF INCOME TAX ANDHRA PRADESH VS. TOSHOKU LTD [REFERRED TO : (1980) 125 ITR 525 (SC) : TC 39R.1106]
COMMISSIONER OF INCOME TAX GUJARAT VS. ARVIND MILLS LIMITED [REFERRED TO : (1992) 193 ITR 255 (SC) : TC 29R.727]
EMIL WEBBER VS. COMMISSIONER OF INCOME TAX V AND M NAGPUR [REFERRED TO : (1993) 200 ITR 483 (SC) : TC 41R.421]
DALMIA CEMENT BHARAT LIMITED VS. GALAXY TRADERS AND AGENCIES LIMITED [REFERRED TO]
REVA INVESTMENT PVTLTD VS. COMMISSIONER OF GIFT TAX GUJRAT II [REFERRED TO : (2001) 249 ITR 337 (SC)]
COMMISSIONER OF INCOME TAX DELHI II VS. QANTAS AIRWAYS LIMITED [REFERRED TO : (2001) 251 ITR 264 (DEL)]
SOUTH INDIA SHIPPING CORPORATION LIMITED VS. ADDITIONAL COMMISSIONER OF INCOME TAX [REFERRED TO : (1979) 116 ITR 819 (MAD) : TC 29R.740]

JUDGEMENT

(1.) ALL these references made at the instance of the Revenue in terms of sub s. (1) of S. 256 of the IT Act, 1961 (hereinafter referred to as, 'the Act'), by the Income tax Appellate Tribunal, Delhi Bench 'B', New Delhi (hereinafter referred to as 'the Tribunal'), involving common questions of law and fact were taken up for hearing together and are being disposed of by this common judgment.

(2.) THE questions, which have been referred for opinion of this Court, are as follows :

(3.) THE factual matrix of the matter is not in dispute. The assessee is a non resident company incorporated in Australia. Its shares are owned by the Government of Australia and the assessee carries on worldwide air transport business and maintains the centralized accounts in Australia. It had sold the aircrafts, which were its capital asset. Such sales are effected outside India.

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COMMISSIONER OF INCOME TAX Vs. QUANTAS AIRWAYS LIMITED

Referred Judgements :-

JUDGEMENT

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