2007 (2) TMI 93

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....Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short, "the Tribunal"), has referred under section 256(1) of the Income-tax Act, 1961, the following question of law which emerges from its order dated August 22, 1988, in I. T. A. No. 924/Chandi/ 84 for the assessment year 1980-81 "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was r....

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....f Income-tax (Appeals) was upheld by the Tribunal in further appeal by the Revenue. 3 We have heard Mr. Yogesh Putney, learned counsel for the Revenue, a with his assistance have perused the paper book. 4 Mr. Putney has vehemently argued that, the findings recorded by the Commissioner of Income-tax (Appeals) as confirmed by the Tribunal are perverse in so far the explanation furnished by the....