1998 (11) TMI 12

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.... contractor seeks the refund of a sum of Rs. 49,428 retained as tax for the assessment year 1991-92 by the first respondent which amount had been retained by the Department by invoking section 44AC of the Act as it stood then. The validity of the said provision was upheld by the Supreme Court in the case of Union of India v. A. Sanyasi Rao [1996] 219 ITR 330, except to the extent, the non obstante....

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....e specified in column (2) of the Table below . . ." There is no dispute about the fact that the forest produce is mentioned in the Table and the right exercised by the petitioner in relation to that forest produce is a right which the petitioner acquired by becoming the successful bidder in the auction. According to the petitioner what was sold at the auction was a right to gather the forest pr....

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....Mohanlal Hargovind of Jubbulpore v. CIT [1949] 17 ITR 473 therein. Those earlier decisions were approved by the Supreme Court in the case of Mahadeo, AIR 1959 SC 735. The Privy Council in the case of Mohanlal Hargovind [1949] 17 ITR 473 observed that : "The contracts grant no interest in land and no interest in the trees or plants themselves. They are simply and solely contracts giving to the g....

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....he Act. The provision is a special provision for computing the profits and gains from the business of trading in certain goods. One of the items of the goods specified is forest produce. The transfer of title in the forest produce from one person to another in the course of trade is, therefore, to be governed by this provision. It covers not only the actual sale of goods but also the right to rece....