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Issues: Whether a referable question of law arose from the Appellate Tribunal's order so as to justify a reference under section 66 of the Indian Income-tax Act, 1922, notwithstanding the Tribunal's view that the question had already been settled by an earlier decision.
Analysis: The Tribunal had declined to state a case on the footing that the point was already covered by an earlier judgment and had therefore become academic. The Court held that the earlier decision had laid down only the principles governing orders under section 23A and did not decide the specific question whether dividends declared by another company in which the assessee held shares constituted fictional or notional income, or when the assessee became entitled to receive them. Since the precise question raised by the Commissioner had not been answered in the earlier case and arose directly from the Tribunal's order, it was a question of law fit for reference.
Conclusion: The Tribunal and the High Court were wrong in refusing the reference, and the question had to be stated for the High Court.
Ratio Decidendi: A question of law is referable under section 66 where it directly arises from the Tribunal's order and is not concluded by an earlier decision unless that earlier decision has actually determined the same specific legal issue.
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