1996 (3) TMI 54

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.... under section 256(2) of the Income-tax Act, 1961 (for short, " the Act "), the applicant-Department seeks as direction to the Income-tax Appellate Tribunal, Indore Bench, Indore, to state the case and refer the undernoted three questions said to be of law for the opinion of this court arising out of its order dated June 27, 1991, passed in I. T. A. No. 460/Ind. of 1989 and its refusal to refer th....

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...., under section 143(3) of the Act. The assessee had returned the income at Rs. 99,690 but the Assessing Officer made additions of Rs. 10,000 on account of certain undisclosed transactions of purchase and sale and of Rs. 2,563 on account of discrepancies in the matter of Bardana use by the assessee. The assessment was not challenged by the non-applicant/assessee in appeal and as such the additions ....

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....eld that the order imposing penalty is unreasonable and vindictive in nature. Since the order was not acceptable to the Department, it moved an application before the Tribunal under section 256(1) seeking reference. The Tribunal, however, rejected the application by its order dated November 16, 1991, holding that the order of the Tribunal is based on appreciation of facts on record and as such ....