2006 (4) TMI 88

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t have dismissed their application made under section 256(1) of the Act for making a reference to this court on the questions proposed but should have allowed the same by making the reference under section 256(1) ibid. According to the applicant, the questions proposed are referable questions and being questions of law arising out of the aforesaid appellate order, the same need to be decided by this court in its reference jurisdiction conferred by section 256(1) of the Act. The applicant has proposed the following three questions of law which according to the applicant do arise out of the aforementioned order and are thus referable: "(i) Whether, on the facts and in the circumstances of the case the Tribunal has erred in law in not follow....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... application in part and in consequence direct the Tribunal to refer the questions framed by us as indicated infra. In our considered view the question of law does arise out of the order of the Tribunal and hence, the same should have been referred to this court for answer on the merits. We need not take note of the facts in detail as it is now for the Tribunal to draw a statement of case with reference to the entire facts and findings rendered by the taxing authorities including the Tribunal. Suffice it to say, the question arose before the Tribunal in an appeal filed by the Revenue (Commissioner of Income-tax) as to whether the decision rendered by the High Court in M.C.C. No. 65/93 (CIT v. Premier Industries P. Ltd. [1997] 227 ITR 282)....