TaxTMI 
TaxTMI 
2004 (11) TMI 53
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....wing question of law said to arise out of the order, dated January 23, 1990: "Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the amount of Rs. 4,48,819 received by the assessee as subsidy was receipt of capital nature?" Heard Shri R. L. Jain with Ku. Mandlik, learned counsel for the Revenue and Shri R. Sarda, learned counsel for the assessee. We have heard learned counsel for the parties and perused the statement of case drawn by the Tribunal dated January 31, 2000, together with 4 annexures accompanied by the statement of case. Having heard learned counsel for the parties and having perused the entire paper book which as observed supra, contains the statement o....
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....ing the statement of case, the Tribunal has simply extracted verbatim the finding of the Tribunal on the issue rather than to quote the relevant and salient features of the scheme which really fell for interpretation to decide the true character of the amount. In other words, what was relevant was neither stated nor filed (i.e., the Scheme) and what was not of much relevance has been given due prominence i.e., quoting of the verbatim paragraph of the Tribunal's order. In fact, when the order of the Tribunal itself is annexed as annexure D to statement of fact, there arises no need to extensively quote para. after para. in the statement of case because this court can read these paras. from the order itself which is made a part of the stateme....
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.... perspective, whether the Tribunal was right in deciding the question. In the absence of any of these material issues being totally missing, we cannot countenance the casual manner in which the Tribunal has exercised its second appellate jurisdiction as also reference jurisdiction under section 256(1) of the Act. The jurisdiction of the High Court under section 256(1) of the Income-tax Act is well defined by a series of judicial authorities rendered by the Supreme Court and the High Courts. This court cannot travel outside the statement of case, referred to this court by the Tribunal for answering the question referred. In other words, this court has to answer the question only on the basis of what is contained in the statement of case and....