2007 (4) TMI 210

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....evenue under section 256(2) of the Income-tax Act, 1961 relating to the assessment years 1984-85 and 1985-86 were admitted on the questions of law set out in the respective applications. The respondents (hereinafter referred to as "the assessee") were partners of M/s. Nav Bharat Press, Nagpur. On dissolution of the said firm amounts credited to the capital accounts in the respective assessment ....

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.... filed by the Revenue without considering the grounds raised in the appeal. Even the applications filed by the Revenue under section 256(1) were rejected. In these applications it is contended by Mr. Jaiswal, learned counsel for the Revenue that, without considering the issues specifically raised in the appeal, the Tribunal could not have dismissed the appeals filed by the Revenue on the ground....

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....to call for the statement of case. Applicability of the order passed by the Delhi High Court in the case of CIT v. Popular Jewellers [1999] 238 ITR 676 can be considered after the statement of the case is forwarded by the Tribunal. Accordingly, all these applications are allowed on the following question of law modified by consent of parties: "Whether, on the facts and in the circumstances of t....