1994 (1) TMI 27

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....he Income-tax Act, 1961 (for short, "the Act"), pertaining to the assessment year 1984-85, the Revenue seeks a direction to the Income-tax Appellate Tribunal to refer the following questions, stated to be questions of law, for the opinion of this court: "(i) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in deleting the income ....

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....d on a view wherein the essential matters had been overlooked ?" The petition is vehemently opposed by Mr. C. S. Aggarwal, learned counsel for the assessee, primarily on the ground that before deleting the addition of Rs. 6.50 lakhs made to the results declared by the assessee, the Tribunal has compared the results for the assessment year in question with the income assessed for the preceding a....