Commissioner of Income Tax vs Rajasthan State Warehousing Corporation

Rajesh Balia, J.

Heard learned counsel for the parties.

At the instance of the Commissioner u/s 256(1) of the Income Tax Act, the Appellate Tribunal, Jaipur, Bench, Jaipur has referred the following question of law which arose out of its order in ITA No. 951/Jp/1985 relating to assessment year 1977-78 :

"Whether on the facts and in the circumstances of the case, and in law, the Tribunal was justified in upholding the findings of Commissioner (Appeals) that the entire income of the assessee is exempt u/s 10(29) of the Income Tax Act".

It has been stated by both the learned counsel that identical question raised in the case of very same assessee was subject-matter of IT Ref. No. 20 of 1988 which has been decided by this court on 17-4-2001 (reported as CIT v. Rajasthan State Warehousing Corporation 2001) 168 CTR (Raj) 6121, and the question has been answered in favour of the revenue and against the assessee. Following the aforesaid decision, the question referred above is answered in favour of the revenue and against the assessee for the reasons stated in the order dated 17-4-2001, in D.B. IT Ref. No. 20 of 1988.

There shall be no order as to costs.