2000 (12) TMI 10 - SCH - Income Tax

Whether, the Income-tax Appellate Tribunal was right in law in having upheld in entirety the disallowance of the assessee s claim of a sum of ₹ 8,00,063 on account of demurrage and wharf age recovered from the assessee by the North, Western Railways, merely because a claim against the contractor was pending for arbitration - Appeal is allowed - Tribunal directed to refer the question to the High Court.

Summary

The Supreme Court granted special leave and directed the Tribunal to refer a question of law regarding the disallowance of a claim for demurrage and wharf age recovered from the assessee by the North Western Railways.