2004 (5) TMI 11

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....d by A.M. Sapre J. - This is an appeal filed by the Revenue (Income-tax Department) under section 260A of the Income-tax Act, 1961, against an order dated September 23, 2003, passed by the Income-tax Appellate Tribunal (for short called "the Tribunal") in case No. MA/99/Ind of 2003-20/Ind of 2003 arising out of two appeals 1/Ind of 1995 and 2/Ind of 1996 relating to the assessment years 1992-93....

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.... received during the previous year by the assessee on actual receipt basis. In the aforesaid case, the hon'ble Supreme Court was pleased to hold that reference to section 145 of the Income-tax Act, 1961, was incorporated with effect from October 1,1991, in section 21 of the Interest-tax Act, 1974. Section 145 of the Income-tax Act, permits income chargeable under the head 'Profits and gains of bus....

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....recourse to the provisions of section 254 of the Act, the Revenue has felt aggrieved and filed this appeal. Having heard learned counsel for the appellant and having perused the record of the case, we find no cause to admit the appeal as in our opinion no question of law as is required to be made out under section 260A ibid arises out of the order of the Tribunal. Mere perusal of the impugne....