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| The Tax Publishers2020 TaxPub(DT) 0540 (HP-HC) INCOME TAX ACT, 1961
Section 5
No question of law much less substantial question of law arose for consideration in the present appeal, which required consideration by this Court. Revenue invited attention to the statutory provisions, which in given facts and circumstances of the case, was not necessary to discuss, for no substantial question of law arose for consideration at all.
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Income - Accrual - Transaction on behalf of the Government and interest accrued on the deposit -
Assessee was established under Infrastructure Development Board Act, 2001 and was carrying on transaction on behalf of Government and as such, interest accrued on the deposit and the issue of accrual taxability thereupon was a question involved in present case. Held: No question of law much less substantial question of law arose for consideration in the present appeal, which required consideration by this Court. Revenue invited attention to the statutory provisions, which in the given facts and circumstances of the case, was not necessary to discuss, for no substantial question of law arose for consideration at all.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
IN THE HIMACHAL PRADESH HIGH COURT
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