1992 (6) TMI 15

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....t the instance of the Revenue, the Incometax Appellate Tribunal (in short, " the Tribunal " ) has referred the following two questions of law for the decision of this court : " 1. Whether, on the facts and in the circumstances of the case, the reassessment under section 147 of the Income-tax Act is valid ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal is justifi....

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....ered the matter for the assessment years 1972-73, 1973-74 and 1974-75, which came up before this court in I. T. Rs. Nos. 446 to 451 of 1985 (see [1990] 185 ITR 398 ). The relevant Tribunal Appeals are I. T. As. Nos. 243 to 248/(Coch.) of 1977-78. The Tribunal decided the matter in favour of the assessee. But, in the references, this court held that the Tribunal had failed to pose the proper questi....

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....avancore Ltd. [1990] 185 ITR 398 and so the very foundation on which the Tribunal rendered the decision in these two cases has become non est. We are of the view that, in so far as the earlier decision relied on by the Tribunal, rendered in I. T. As. Nos. 243 to 248/(Coch) of 1977-78, has been set aside or not accepted by this court in I. T. Rs. Nos. 446 to 451 of 1985 ([1990] 185 ITR 398 ), the a....