1999 (4) TMI 30

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.... this application under section 256(2) of the Income-tax Act, 1961, to refer four questions stated therein to be questions of law for the opinion of this court. Learned counsel for the assessee, Mr. Mahajan, however, pressed in service only question No. 1 and sought reference by the Tribunal on this question which reads as follows : "(i) Whether, on the facts and circumstances of the case, the ....

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....regular assessment on March 24, 1986, under section 143(3) determining the total income at Rs. 1,81,98,929. On appeal the Commissioner of Income-tax (Appeals) granted partial relief to the assessee, vide order dated March 16, 1983, and while giving effect to this order the Assessing Officer determined the same at Rs. 46,619 as refundable which was set off by charging interest under section 220(2) ....

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....f the Gujarat High Court. But it did not carry conviction with the Tribunal holding that assessment order dated March 24, 1986, had become final on the point and that denial of refund under section 141A could not be raised. The Tribunal accordingly affirmed the order of the Commissioner of Income-tax (Appeals). The Revenue (sic) felt aggrieved and filed an application under section 256(1) calli....