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Petitioner: PUNJAB SMALL INDUSTRIES CORPORATION LTD. VS Respondent: COMMISSIONER OF INCOME-TAX
Court Name: Supreme Court of India Judge(s): B. N. Kirpal, U. C. Banerjee, Brijesh Kumar Title:PUNJAB SMALL INDUSTRIES CORPORATION LTD. vs COMMISSIONER OF
INCOME-TAX Case No.: Civil Appeal No.7353 of 2000 Date of Judgment:2000-12-12 Reported As: 2001 PTD 3402 Result: Appeal allowed Judgment ORDER Special leave granted. After hearing the counsel for the parties, in our opinion, the High Court should have directed the Tribunal to state the case and refer the following question of law to the High Court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in having upheld in entirety the disallowance of the assessee's claim of a sum of Rs.8,00,063 on account of demurrage and wharfage recovered from the assessee by the North Western Railways, merely because a claim against the contractor was pending for arbitration?" We, accordingly, allow the appeal and direct the Tribunal to refer the aforesaid question to the High Court. .