PUNJAB AUTO ENTERPRISES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE petitioner seeks reference of the following question to this Court :

(2.) TWO writ petitions had been filed in this Court wherein similar contentions were raised. Vide our judgments in the cases of Sanghi Motors vs. Union of India (1991) 91 CTR (Del) 15 : (1991) 187 ITR 703 (Del) and Escorts Ltd. vs. Union of India (1991) 93 CTR (Del) 169 : (1991) 189 ITR 81 (Del), this Court had upheld the validity of S. 43B of the Act and also interpreted the first proviso to s. 43B and came to the conclusion that the said provision was not retrospective in operation. The ratio of the said decisions concludes the matter in issue in this case.

(3.) IN the decision of the Kerala High Court in the case of State Bank of Travancore (supra), it was held by the Court that an arguable and debatable question of law did arise and, therefore, the Tribunal was called upon to refer the question of law.