AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
2004 (5) TMI 14
X X X X Extracts X X X X
X X X X Extracts X X X X
....apre J. This is an application made at the instance of the Revenue (Income-tax Department) under section 256(2) of the Income-tax Act, 1961, requesting this court to direct the Income-tax Appellate Tribunal to refer the questions of law which according to the Revenue does arise out of the order, dated August 25, 1993, passed by the Tribunal in ITA No 1133/Ind/1989. Heard Shri R.L. Jain, learned....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ly covered by the decision of the Supreme Court or by the jurisdictional High Court (M.P.) and when it involves some interpretation of a section of the Act on the admitted facts emerging from the record of the case, then in our opinion, the question proposed does satisfy the test of it being a question of law for being referred to this court for answer. It may be that the view taken by the Tribuna....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d the issue in favour of the assessee by holding that he is entitled to get the benefit of section 54F ibid while determining his taxing liability, yet in our opinion, it would be proper if the issue is examined by this court in its reference jurisdiction. We accordingly allow the application and direct the Tribunal to refer to this court the following two questions of law by taking recourse to....