2002 (10) TMI 10

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....ng questions arising out of the order passed by the Income-tax Appellate Tribunal, Ahmedabad Bench "B", have been referred to this court for its opinion under the provisions of section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). At the instance of the assessee: "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in con....

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....ion has already been answered against the assessee in the case of CIT v. Rohit Mills Ltd. [1996] 219 ITR 228 (Guj). Looking to the law laid down by this court in the aforesaid judgment, we answer the said question in the affirmative, i.e., against the assessee and in favour of the Revenue. So far as question No. 2 is concerned, looking to the law laid down by the apex court in the case of CIT v....