9911796707
TMI Blog2016 (10) TMI 811X X X X Extracts X X X X X X X X Extracts X X X X ..... been raised in respect thereof. In that form, the date and year of commencement of operation was mentioned as 07.05.2006 which was accepted by the revenue. In fact, in the previous assessment year, the work had been shown as being in progress. Further, still even the power consumption bills for the six months period ending 16.03.2006 showed that only five units had been consumed. Based thereon, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s the following substantial questions of law:- (i) Whether in the facts and circumstances of the case and in law, the Hon ble ITAT is right in holding that the excise duty refund received by the assessee amounting to ₹ 2,23,11,239/- constituted capital receipt not liable to tax under the provision of Income Tax Act, 1961? (ii) Whether in the facts and circumstances of the case and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had relied upon a certificate of permanent registration with the District Industries Centre, Jammu dated 04.03.2006 in which the date of commencement of production was mentioned as 02.03.2006. The Tribunal, however, accepted the contention that this certificate did not establish that the production had commenced and in any event is not conclusive of the issue. The Tribunal referred to several othe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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