1991 (3) TMI 58

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....-Under section 256(2) of the Income-tax Act, 1961, the Tribunal has stated the following two questions for the opinion of this court: "(1) Whether, in view of the Explanation added to section 271 (1) (c) of the Income-tax Act, 1961, the Tribunal was justified in holding that the principle of law laid down by the Supreme Court in CIT v. Anwar Ali [1970] 76 ITR 696, still hold the field? (2) W....

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....r Ali's case [1970] 76 ITR 696 (SC) was rendered with reference to section 28(1)(c) of the Indian Income-tax Act, 1922. This case is binding upon us in so far as it interprets the provisions of section 28(1)(c) of the 1922 Act. Since Anwar Ali's case [1970] 76 ITR 696 (SC) does not deal with the Explanation to section 271(1)(c), it cannot be treated as binding law in a case arising under the 1961 ....

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....pplies. The ratio of Anwar Ali's case [1970] 76 ITR 696 (SC) would not apply proprio vigore. In view of the fact that the Tribunal has not expressly held that Anwar Ali's case [1970] 76 ITR 696 (SC) holds the field even after the introduction of the Explanation, we think it unnecessary to answer question No. 1. So far as question No. 2 is concerned, while it is true that the approach of the Tri....