1996 (3) TMI 75

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....plication under section 256(2) of the Income-tax Act, 1961 (for short "the Act"), seeking a direction to the Tribunal to state the case and refer the proposed questions of law, as noted below, arising out of the order passed in I. T. A. Nos. 1069 to 1074/Ind of 1985 for the assessment years 1974-75 to 1980-81, for our consideration and opinion : " (1) Whether, in the facts and circumstances of ....

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....ances of the case, the estimate of the assessee's income being arbitrary and without any basis could be sustained in law by the Tribunal ?" On the application of the assessee, registered as R. A. No. 55/Ind/of 1987 one question was referred by the Tribunal. As the other questions were not referred, the assessee has filed this application under section 256(2) of the Act. Briefly stated, the f....

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....ssee and Shri D. D. Vyas, learned counsel for the non-applicant/Department. We have considered the application and as also the submissions. In our view, the order of the Tribunal is based on an appreciation of the facts and features and does not give rise to the proposed questions. The finding reached on appreciation of facts does not give rise to any question of law as held in CIT v. Ashoka....