1992 (3) TMI 18

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....V. K. SINGHAL J. - The Commissioner of Income-tax has moved under section 256(2) of the Income-tax Act, 1961, to this court for directing the Income-tax Appellate Tribunal to state the case and refer the following question of law for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in allowing investment allowance of Rs. 35.83 ....

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....ing in the High Court then the application for the year 1978-79 has become infructuous. The reference application under section 256(1) of the Act was rejected. In the present case, when an appeal was preferred before the Income-tax Appellate Tribunal, the assessee submitted that the investment allowance which has been allowed for the assessment year 1977-78 should be considered for the assessme....