2007 (1) TMI 136

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....ns of law have been referred for the opinion of this court arising out of the order passed by the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar (for short, "the Tribunal") in I. T. A. No. 647/Chandi/79 dated December 20, 1980, in respect of the assessment year 1974-75 : "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in....

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....rcumstances of the case, the Income-tax Appellate Tribunal is right in law in setting aside the Income-tax Officer's order under section 154 considering particularly the provisions of section 80J (1A) inserted by the Finance (No.2) Act, 1980 with retrospective effect from April 1, 1972?" Briefly, the facts of the case are that the assessee filed its return of income which was assessed vide orde....