1995 (11) TMI 71

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....--The applicant (the Commissioner of Income-tax) has filed this reference application under section 256(2) of the Income-tax Act, 1961, for opinion on the undernoted questions of law: "(1) Whether, on the facts and in the circumstances of the case and on the basis of the material available on record, the Tribunal was right in holding that the Income-tax Officer had granted exemption under secti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....assessment year 1973-74, according to the Commissioner of Income-tax, a net loss of Rs. 12,690 was returned and accepted by the Income-tax Officer, vide his assessment order dated September 30, 1977, and a refund of Rs. 8,872 representing the tax deducted at source was allowed to the assessee. The Commissioner of Income-tax for the subsequent assessment year 1973-74 as well as for the assessment y....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r for the aforesaid four years. In appeals by the assessee, the Tribunal reversed the order passed by the Commissioner of Income-tax and sustained the assessments made by the Income-tax Officer for all the four years and thus held that the assessee was entitled to get exemption under section 11 of the Act. The Revenue, therefore, filed applications, registered as Nos. 8 to 11/Ind of 1981 arising o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ining the reference application at the instance of the parties, it is required to be shown that the questions arose out of the order passed by the Tribunal and are questions of law. It is a pure question of finding of fact. The finding of fact, not shown to be perverse or perishable, reached by the Tribunal did not give rise, as held in CIT v. Ashoka Marketing Ltd. [1976] 103 ITR 543 (SC) and C....