1996 (4) TMI 50

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.... Income-tax, Bhopal) has filed this application under section 256(2) of the Income-tax Act, 1961 (for short " the Act "), seeking a direction to the Tribunal to state a case and refer the proposed question as extracted below on rejection of the application registered as R. A. No. 241/Ind of 1992 for the assessment year 1983-84 on February 8, 1993, arising out of the order passed by the Tribunal on....

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....isfied, the applicant filed an application under section 256(1) of the Act which was rejected on February 8, 1993. Thereafter, the applicant has filed this application under section 256(2) of the Act. We have heard Shri D. D. Vyas, learned counsel for the applicant, and Shri R. C. Kochatta, learned counsel for the non-applicant. We have perused the order of the Tribunal passed on July 27, 19....

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....eals) that the claim for deduction under section 80J was made by the assessee in a bona fide manner looking to the fact that the assessment year involved, i.e., 1983-84, was in fact the fifth year of the existence of the assessee which had come into existence from the assessment year 1979-80 while before that it was the proprietary concern of Shri Motilal. Therefore, in our view, the learned Commi....