COMMISSIONER OF INCOME TAX Vs. COCHIN REFINERIES LIMITED

JUDGEMENT

(1.) THOUGH numbered as two different reference cases, I.T.Rs. Nos. 65 and 66 are really one reference concerning the year 1969-70. Two numbers are given evidently because the Commissioner of Income-tax made two reference applications in the same case and that again only because before the Tribunal there was an appeal by the assessee and another by the department and they were disposed of by a common judgment. There is thus only one reference concerning the year 1969-70, and the only question referred is:

(2.) SIMILARLY, I.T.Rs. Nos. 71 and 72 of 1977 are two numbers given for the same reference and that for the assessment year 1970-71, in regard to the same assessee. In that case too, two reference applications had been made as in I.T.Rs. Nos. 65 and 66 of 1977. Besides the question which is the subject of I.T.Rs. Nos. 65 and 66 of 1977, in I.T.Rs. Nos. 71 and 72 there is a second question, namely :

(3.) THE 50% of the liability of the assessee-company for payment of royalty came to Rs. 10,93,981. Though the liability was carried to the books of account of the assessee-company only in the accounting year ended with August 31, 1967, some payments had been made earlier, the dates thereof being: