2002 (7) TMI 23

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....s reference at the instance of the assessee, the following questions are referred for our opinion in respect of the assessment year 1976-77: "1. On the facts and circumstances of the case, whether the Appellate Tribunal was right in its interpretation and application of section 35C of the Income-tax Act, 1961? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribu....

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....tion of the total income?" We have heard Mr. Manish J. Shah, learned counsel for the applicant-assessee, and Mr. Tanvish Bhatt, learned standing counsel for the Revenue. At the hearing today, our attention is invited to the decision of this court in Kaira District Co-operative Milk Producers Union Ltd. v. CIT [2002] 253 ITR 766, which has concluded the controversy covered by the first three ....