1963 (11) TMI 4
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....e ". In the assessment year 1951-52, the assessee claimed under section 15C of the Indian Income-tax Act, 1922, exemption from tax in respect of 6% of the capital employed in " Eldee " as a newly established undertaking and sought to include in the computation of the capital so employed Rs. 3,21,460 advanced to " Castle ". The Income-tax Officer, Special Circle, Amritsar, and the Appellate Assistant Commissioner rejected the claim. But the Income-tax Appellate Tribunal modified the assessment and directed inclusion of the amount advanced to " Castle " in the computation of capital invested for the purpose of section 15C. An application submitted under section 66(1) of the Indian Income-tax Act to the Tribunal to refer a question, which, it ....
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....le " and that " the factor taken into consideration by the Appellate Tribunal in coming to the conclusion, it did," was a relevant factor. Section 66(2) invests the High Court with jurisdiction to require the Appellate Tribunal to state a case and to refer it, if the Appellate Tribunal has refused to state the case on the ground that no question of law arises, and the High Court, being approached by the aggrieved party within the period of limitation prescribed, Is not satisfied about the correctness of the decision of the Appellate Tribunal refusing to state the case. Under the Income-tax Act it is for the Tribunal to decide all questions of fact : the High Court has the power merely to advise the Tribunal on questions of law arising out....