1995 (11) TMI 57

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.... SETHI J.--The application of the Revenue seeking reference of the question of law to this court was rejected by the Income-tax Appellate Tribunal, vide annexure "P-2". It is contended that the Tribunal was not justified in declining to make a reference as admittedly the question of law sought to be referred had not been ascertained, determined or adjudicated by the jurisdictional court. We hav....

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....cata or by any other form of estoppel. The mere fact that the Revenue did not pray for making of reference in the case of Rattan Chand Oswal, did not debar them from filing the application in the case of the respondents to get the reference made and the point of law adjudicated. Rather the judgment in favour of the respondent herein might have persuaded the Revenue to get the point of law settled ....