1991 (3) TMI 41

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....r shall also govern the disposal of M. C. C. No. 104 of 1989 (CIT v. State Bank of Indore). These are applications under section 256(2) of the Income-tax Act, 1961, (for short "the Act"), filed by the Commissioner of Income-tax, Bhopal. Reference applications were filed under section 256(1) of the Act, by the Department before the Income-tax Appellate Tribunal, Indore, proposing the following ques....

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.... which were raised earlier between the Income-tax Department and the State Bank of Indore. In CIT v. State Bank of Indore [1988] 172 ITR 24, (M. C. C. No. 281 of 1985 decided on November 6, 1987), the Division Bench of this court had already answered these very questions holding in favour of the assessee. The Income-tax Appellate Tribunal, therefore, relying on the aforesaid judgment of the High C....