Commissioner Of Income Tax vs Assam Oil Company Ltd.

Authority: High Court Date: 1970-02-03 Section: 256(1) Acts: Income Tax Act 1922, Limitation Act 1963, Constitution of India Result: Assessee Citation: (1972) 83 ITR 456 (CAL) Justices: P.B. Mukharji, Actg. C.J. & T.K. Basu, J. Appeal No: IT Ref. No. 246 of 1969
Whether the Tribunal has power to condone delay in filing reference application under Section 66(3) of Income Tax Act 1922 --- Held No; Whether royalty payment of Rs. 8,54,503 is allowable as revenue expenditure --- Held Yes (by Tribunal, not challenged in this proceeding)

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