1994 (4) TMI 2

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....f the Income-tax Appellate Tribunal, Bombay Bench "A", Bombay, declining to state a case and refer a question of law for the opinion of the High Court. Learned counsel for the Revenue raised an objection as to the maintainability in view of the fact that the petitioner seeks to bypass the procedure under section 256(2) of the Income-tax Act, 1961. In the normal course, we should have declined t....

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....uncement of this court in Prakash Cotton Mills P. Ltd. v. CIT [1993] 201 ITR 684. This court approved the view taken of the matter by the Andhra Pradesh High Court in CIT v. Hyderabad Allwyn Metal Works Ltd. [1988] 172 ITR 113, that the levy authorised by section 36(3) of the Bombay Sales Tax Act is composite in nature being partly compensatory and partly penal in character and that the proportion....

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....st is found to be of a composite nature, that is, partly of compensatory nature and partly of penal nature, the authorities are obligated to bifurcate the two components of the impost and give deduction to that component which is compensatory in nature and refuse to give deduction to that component which is penal in nature. " In view of this position, we do not propose to dismiss this special l....