Commissioner of Income Tax vs sir shri ram foundation

Arijit Pasayat, C.J.

At the instance of the revenue, following question has been referred for opinion of this court u/s 256(1) of the Income Tax Act, 1961 (hereinafter referred to as the Act) by the Tribunal, Delhi Bench A :

"Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was correct in law to give a finding that the assessed was not covered by section 13(2)(h) of the Income Tax Act or any other provision of section 13 and thereby allowing its claim for exemption from tax of its dividend income u/s 11 of the Income Tax Act ?"

Dispute relates to the assessment year 1976-77.

We have heard the learned counsel for the revenue. There is no appearance on behalf of the assessed in spite of notice. An identical question was considered in the assessed''s own cases for the assessment years 1971-72, 1972-73 and 1973-74. Following the view expressed in the connected cases, i.e., IT Reference Nos. 307, 308 of 1978 and 337 of 1980 3. The reference stands disposed of.