ABDUL RAHIM A TRAVANCORE CONFECTIONARY WORKS Vs. COMMISSIONER OF INCOME TAX
LAWS(KER)-1974-7-24
HIGH COURT OF KERALA
Decided on July 16,1974

A. ABDUL RAHIM, TRAVANCORE CONFECTIONERY WORKS Appellant
VERSUS
COMMISSIONER OF INCOME-TAX Respondents

JUDGEMENT

- (1.) The Income Tax Appellate Tribunal, Cochin Bench has referred the following question to the High Court for its opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the withdrawal of the development rebate, under S.155(5) of the Income Tax Act, 1961, amounting to Rs. 424, Rs. 1,696, Rs. 4,223, Rs. 440 and Rs. 11,674 for the assessment years 1962-63, 1963-64, 1964-65, 1965-66 and 1967-68 respectively by the Income Tax Officer was justified -
(2.) For the years mentioned in the question formulated by the Tribunal, the assessee was one Abdul Rahim. He carried on a business in manufacture and sale of confectionery items in the name of M/s. Travancore Confectionery Works, Quilon. The accounting period for each of the years was the Malayalam year ending on the 16th of August of each year. On 1-1-1967 the assessee formed a partnership with his son as his partner. There was a deed of partnership executed on 31-12-1966, under which Abdul Rahim was entitled to a 60% share in the profits and his son to the balance, 40%. The firm took over the assets and liabilities of the assessee's confectionery business with effect from 1-1-1967 and carried on the same business under the same trade name.
(3.) As can be seen from the question itself, Abdul Rahim had been allowed development rebate to the extent of the sums mentioned in the question for the years 1962-63 to 1965-66 and 1967-68.;


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