1991 (11) TMI 5

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.... 256(2) of the Income-tax Act, 1961, by the Commissioner of Income-tax, Vidarbha, Nagpur, requiring the Tribunal to draw up a statement of case and to refer the following question said to be of law to this court, under section 256(1) of the Act : " Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that unabsorbed depreciation ....

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....f depreciation. The Income-tax Officer did not allow deduction in respect of unabsorbed depreciation in the hands of the partners pertaining to the assessment year 1976-77. The assessee thereafter filed an application under section 154 of the Income-tax Act contending that the unabsorbed depreciation in the hands of the partners for the assessment year 1976-77 amounting to Rs. 1,97,483 should be a....