Federation Of Mining Associations Of Rajasthan v. State Of Rajasthan And Another

Federation Of Mining Associations Of Rajasthan v. State Of Rajasthan And Another

(Supreme Court Of India)

Civil Appeal No. 4287 -91, 4293-4302, 4303-09, 4317-29, 4292, 4310 To 4316 Of 1988 And Writ Petition No. 413 And 112 Of 1988 And Civil Appeal No. 6114 Of 1990.2222-23 Of 1991 | 30-08-1991

Civil Appeal No. 166 of 1979

This appeal has to be dismissed as the Tribunal has only followed the decision of this court in CIT v. Maharashtra Sugar Mills Ltd., 1971 (82) ITR 452 [LQ/SC/1971/395] , and the High Court has upheld the Tribunals decision on the facts of the case. Nothing further survives. The civil appeal is dismissed accordingly. There will be no order as to costs

Civil Appeal No. 5768 of 1983 and Civil Appeals Nos. 92-98 of 1979

By the orders of the High Court which are under appeal in these matters, the High Court has followed its earlier decision in R.C. No. 36 of 1976 (see 1979 (116) ITR 255 (AP) [LQ/APHC/1977/38] . By our order of even date we have dismissed Civil Appeal No. 166 of 1979 arising out of the said judgment. These appeals have also to be consequently dismissed. We order accordingly. There will be no order as to costs

Special Leave Petition (C) No. 5753-54 of 1980

These special leave petitions have to be dismissed in view of our order in Civil Appeal No. 166 of 1979. We order accordingly. There will be no order as to costs

Appeals and petitions dismissed.

Advocate List
Bench
  • HON'BLE JUSTICE S. RANGANATHAN
  • HON'BLE JUSTICE VEERASWAMI RAMASWAMI
Eq Citations
  • (1992) SUPPL. 2 SCC 239
  • AIR 1992 SC 103
  • JT 1992 (1) SC 118
  • LQ/SC/1991/430
Head Note

A: Income Tax — Deductions — Interest on loans — Interest paid on loans for purchase of machinery — Whether deductible — Held, Tribunal has only followed decision of Supreme Court in Maharashtra Sugar Mills case, (1971) 82 ITR 452, and High Court has upheld Tribunal's decision on facts of case — High Court has also followed its earlier decision in RC No 36 of 1976, 1979 116 ITR 255 AP, which has been dismissed by Supreme Court — Hence, held, Tribunal and High Court decisions are not correct — SLPs and appeals dismissed — Income Tax Act, 1961, S. 36(1)(iii)