1997 (12) TMI 17

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...., for the assessment year 1987-88 has been filed by the petitioner-Commissioner of Income-tax, Jaipur, against the order dated July 17, 1990, passed in Income-tax Appeal No. 1525/JPR of 1989 by the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, and the order dated April 25, 1991, passed by the Tribunal in Reference Application No. 200/JP of 1990, upholding the order dated July 17, 1990, and ....

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....s committed an error of law in not referring the abovesaid questions of law on the basis of lowest value and has not considered the sufficient material on record. The Tribunal has failed to take on record the estimated value of costs of its own without following any guidelines. Reliance has been placed on CIT v. S.P. Jain [1973] 87 ITR 370 (SC). On the other hand, learned counsel for the respon....