The High Court, while admitting the Department\u2019s appeal, formulated ten questions : whether the Tribunal was correct in allowing deductions in respect of interest for the preoperative period as revenue expenditure, deferred revenue expenditure relating to sponsorship of Wills World Cup, which pertained to the next year, provision of Rs. 60,61,952 in respect of cigarettes in stock claimed to be damaged, and deduction under section\u00a080HHD\u00a0of the\u00a0Income-tax Act, 1961, with reference to the receipts of the approved hotel instead of proportion of the foreign exchange earnings to the profit and total turnover of the assessee, deleting disallowances in respect of travel expenses pertaining to the non-employees, proportionate interest relatable to interest-free advances to the subsidiaries, and excess price paid for purchase of tobacco from the subsidiaries at rates higher than the market price, directing that proportionate capital gains pertaining to land would be treated as long-term capital gains, allowing and holding that the self-assessment tax paid was to be deducted from the tax payable as per the assessment order for the purposes of calculating interest payable under section\u00a0234A\u00a0of the Income-tax Act, 1961. When the appeal came up for final hearing, the High Court dismissed the appeal holding that no substantial question of law arose out of the judgment rendered by the Tribunal. On appeal, allowing the appeal, that there was no option except to set aside the judgment of the High Court and remand the matter to High Court for hearing the appeal. The High Court shall now hear both the parties and decide the case on the merits.(AY.1996-97)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 260A : Appeal-High Court-Substantial question of law- Appeal admitted by Court formulating ten questions of law- At time of final hearing Court dismissing appeal holding no question of law arises- Order of High Court set aside and matter remanded for disposal b Court on merits. [Art. 136] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-45956","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bXe","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=45956"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45956\/revisions"}],"predecessor-version":[{"id":45957,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45956\/revisions\/45957"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=45956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=45956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=45956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}