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TMI Blog2002 (10) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... The judgment of the court was delivered by N.V. BALASUBRAMANIAN J.-The Tribunal has stated a case and referred the following question of law at the instance of the Revenue: "Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the assessee is a non-trading company and hence the rate of taxation is 55 per cent.?" The assessment year involved is 1986-87. The assessee is a private limited company carrying on the business of running a chain of hotels in Coimbatore and the Income-tax Officer in the original assessment made on the assessee for the assessment year 1986-87, treated the company as a non-trading company and levied the tax at the rate of 55 per cent. Thereafter, he resorted to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal relies on its earlier order, such earlier order should form part of the statement of case, but, unfortunately, the Tribunal has not enclosed its earlier order. Further, the present order of the Tribunal, which is the subject matter of reference, does not contain any independent reason. We also directed learned counsel for the Revenue to furnish a copy of the order of the Tribunal. Learned counsel for the Revenue submitted that though he instructed the Department to forward a copy of the order, the Department has not furnished a copy of the earlier order. When the court directed the Department to submit a copy of the order of the Appellate Tribunal, the Department should have produced the same. We record our strong displeasure towards ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany is not satisfied and hence, the Tribunal was correct in holding that the assessee-company is a non-trading company and it does not fall within the definition of the expression, "trading company" as defined in section 2(7)(g) of the Finance Act. As far as the decision of this court in CIT v. Buhari Sons (P.) Ltd. [1983] 144 ITR 12, which has been relied upon by the Assessing Officer to initiate rectification proceedings is concerned, the case dealt with the definition, "industrial company" within the meaning of section 2(7)(d) of the Finance Act, 1966. Though this court has dealt with the case of a hotel, this court was not considering the question whether the said hotel should be treated as a trading company or a non-trading compan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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