GAMMON INDIA LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BY this reference under S. 256(1) of the IT Act, 1961 made at the instance of the assessee, the Tribunal has referred the following questions of law to this Court for opinion :

(2.) THIS reference pertains to asst. yrs. 1961 62 to 1965 66. The assessee is a company engaged in the business of civil engineers and contractors. During these assessment years, the assessee company had income, inter alia, from dividends from joint stock companies situated outside India the bulk of such income was from companies registered in the United Kingdom. In its return for the asst. yrs. 1961 62 to 1965 66, the assessee claimed relief under S. 49D of the Indian IT Act, 1922 or under S. 91(1) of the IT Act, 1961. While making assessments for the above assessment years, the ITO omitted to consider this claim of the assessee. On receipt of the orders of assessment, by a letter dt. 4th Jan., 1971, the assessee pointed out this omission to the ITO. Along with this letter, a precise computation of relief due to it in terms of S. 49D of the 1922 Act/s. 91(1) of the 1961 Act along with proof of payment of tax in United Kingdom was also submitted.

(3.) THE controversy in the first two questions relate to the powers of the Tribunal to admit the additional grounds of appeal. It is stated by the counsel for the parties that the above controversy is now settled by the Full Bench decision of this Court in Ahmedabad Electricity Co. vs. CIT (1992) 106 CTR (Bom)(FB) 78 : (1993) 199 ITR 351 (Bom)(FB). In view of this statement, we answer Question No. 1 in the affirmative and in favour of the Revenue. Consequently, question No. 2 is also answered in the negative and in favour of the Revenue.