2008 (1) TMI 1001

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....d. ORAL JUDGMENT PER : HONOURABLE MR.JUSTICE D.A.MEHTA) 1. The Income-tax Appellate Tribunal, Ahmedabad Bench "B" has referred the following question under Section 256 (1) of the Income-tax Act, 1961 ("the Act") at the instance of Revenue : "Whether, the Appellate Tribunal is right in law and on facts in holding that in respect of unpaid royalty to Government the provisions of Se....

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.... the Applicant - Revenue fairly pointed out that the issue now stands concluded against Revenue by virtue of Judgment of the Apex Court in the case of STATE OF WEST BENGAL & ANR. V/s. KESORAM INDUSTRIES LTD. & OTHERS, reported in (2004) 266 ITR 721, with special reference to the observations from Page No.762 onwards. 4. Once the Apex Court has categorically recorded that the Royalty is not a ta....