1991 (5) TMI 18

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n application under sub-section (2) of section 256, of the Income-tax Act, 1961, at the instance of the Revenue. The only question that was canvassed before the tax authorities was whether the proceedings under section 154 of the Act were barred by time. The Tribunal has held in the affirmative. The Tribunal has also rejected the application under section 256(1) of the Act. Hence, this application....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... questions that may require consideration of this court. In our opinion, the question of law as set out below does arise from the order of the Income-tax Appellate Tribunal : "Whether the Income-tax Appellate Tribunal was legally correct in holding that the rectification order passed on May 22, 1986, in respect of relief allowed under section 80J in the original assessment was barred by limitat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... arise, this court may not be justified in refusing to require the Tribunal to refer the case merely because the view taken by the Tribunal on the question of law is either correct or the ultimate decision upon the point of law may be in favour of the assessee. We may also not be justified in declining the reference only on the ground that the matter stands decided by one or more High Courts and t....