9911796707
TMI Blog1993 (2) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... tively. The assessee had entered into an agreement with the State Trading Corporation of India for import from Japan against Yen credit on deferred payment basis six sets of "TSUDAKOMA" sizing and warping machines. These machines Were expected to be allotted to the members of the silk and rayon textile industry and other persons in the trade. The purchasers of these machines were assured certain benefits by the State Trading Corporation of India. The machines were imported from Japan and were stored in the warehouse. As the State Trading Corporation of India was not in a position to fulfil certain benefits assured to the purchasers, the machines were lying in the warehouse. For the years under reference, the State Trading Corporation of I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the two amounts involved in the respective years. Thereafter, the Revenue came up in appeal before the Tribunal and the Tribunal, also following its earlier order referred to by the Appellate Assistant Commissioner, upheld the deletion of these two amounts. Being aggrieved by the order of the Tribunal, the Revenue made an application under section 256(1) of the Act and the Tribunal has referred the following question for the assessment year 1972-73 : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in allowing the assessee-company's claim of Rs. 6,58,757 under godown rent, interest and insurance charges said to be payable to the State Trading Corporation as ascertained liabilities having regard to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , no fault could be found in the order of the Tribunal allowing the assessee's claim for deduction of the two amounts involved. Further, the Revenue has not been in a position to state what type of dispute had arisen between the assessee and the State Trading Corporation of India. There is nothing on record to suggest that the assessee was disputing the debit notes raised by the State Trading Corporation of India. In this view of the matter, we answer the question referred to us in the affirmative and in favour of the assessee. Before we part with this judgment, we would like to make certain observations. At the end of the statement of the case, the Tribunal has stated as under : "The Commissioner undertakes to produce before the High C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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