9911796707
TMI Blog1993 (3) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellate Tribunal has referred the following two questions of law for the decision of this court : " 1. Whether, on the facts and in the circumstances of the case, the income from interest on Government securities, dividend from shares in companies and interest from bank deposits in respect of which no activity for profit is carried on by the assessee-Chamber of Commerce are exempt under the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome-tax Act. The Income-tax Officer held that the assessee is not entitled to exemption and that its income was taxable. In appeal, the Appellate Assistant Commissioner by a common order passed for the years 1973-74 and 1974-75 affirmed the decision of the Income-tax Officer. The Appellate Tribunal, by a common order for the present assessment year 1973-74 and for the year 1974-75, held that the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs 1970-71, 1971-72, 1972-73, 1974-75 and 1975-76 came up before this court in I. T. R. Nos. 342 to 346 of 1982 (Cochin Chamber of Commerce and Industry v. CIT [1994] 205 ITR 536). A Bench of this court, by its judgment dated February 21, 1989, held as follows (at page 538) : "The assessee-applicant was in receipt of income from interest on Government securities, dividend from shares in companie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis. That matter should be disposed of by the Appellate Tribunal afresh after notice to parties." A perusal of the common judgment rendered by this court in I.T. R. Nos. 342 to 346 of 1982 (Cochin Chamber of Commerce and Industry v. CIT (1994] 205 ITR 536) dated February 21, 1989, shows that the questions of law formulated in these references are also identical. Following the earlier Bench ju ..... X X X X Extracts X X X X X X X X Extracts X X X X
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