9911796707
TMI Blog2012 (10) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... otice that this Income Tax Reference is pending since 1987 and, therefore, we do not consider it proper to adjourn the matter to attend default but wish to answer the reference made to this Court on merits with the assistance of counsel appearing for the Revenue (Income Tax Department). 2. This is an Income Tax Reference made at the instance of the Revenue (Commissioner of Income-Tax) under Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at a specified rate + the central sales tax @ 4%. In terms of the contract, the bills were raised by the assessee to RSEB, which inter-alia included payment of sales tax @ 4% by the assessee. The Hindustan Aluminium Corporation Ltd. the manufacturer of conductors then informed the assessee vide their letter dated 20.8.1981 that out of 4% sales tax, 2% has been treated by them as a deposit made by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not liable to tax. 7. The Commissioner of Income Tax (Revenue) felt aggrieved, prayed for a reference to be made to this Court under Section 256(1) of the Act and accordingly, the reference was made to this Court on the aforestated question to answer. 8.Learred counsel appearing for the Revenue at the outset brought to our notice a decision rendered by the Supreme Court in the case of CIT v. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve perused the decision of the Supreme Court in the case of Thirumalaiswamy Naidu & Sons (supra) and are inclined to accept the submission of learned counsel appearing for the Revenue. 10. In our view, as the statement of case clearly goes to show that though assessee received the amount back from Hindustan Aluminium Corporation. Ltd. i.e. then supplier amounting to Rs. 80,701 /- towards payment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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