1992 (1) TMI 48

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....der section 256(1) of the Income-tax Act, 1961, at the instance of the assessee, by the Income-tax Appellate Tribunal, Bangalore Bench. The question that is referred to us is as under : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the central excise duty refund received by the assessee during the relevant previous year was taxable in the h....

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....omputation of tax. Both the contentions were rejected and the said order dated March 5, 1982, was passed. The assessee filed an appeal before the Commissioner of Income-tax (Appeals). The Commissioner of Income-tax (Appeals) referring to the decisions in Taj Gas Service [1980] 122 ITR 1034 (All), Rashmi Trading [1976] 103 ITR 312 (Guj) and Motilal Ambaidas [1977] 108 ITR 136 (Guj) agreed with the ....

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....issioner of Income-tax (Appeals). Thereafter, the assessee made an application for making this reference. Sri Kumar, learned counsel for the appellant, reiterated the same contentions and Sri H. Raghavendra Rao, learned counsel for the Revenue, submitted that, in view of the decisions referred to above and particularly in view of the decision of this court in CIT v. Kabbur Brothers [1981] 128 I....