1990 (10) TMI 19

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....ition is in respect of the assessment year 1974-75. The petitioner had filed an application under section 256(1) of the Income-tax Act, 1961, before the Tribunal and sought reference of the following questions to this court: " (1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct both on facts and in law in confirming the view of the Commi....

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.... of the Commissioner of Income-tax (Appeals) that since the addition made on account of perquisites in the case of one of the directors has been deleted in his personal case, the disallowance of Rs. 23,200 made by the Income-tax Officer under section 40(c) cannot be sustained ? (5) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct both on ....

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.... Tribunal on an application being filed under section 256(1) of the Act and the application under section 256(2) of the Act, ITC No. 24 of 1990, had been dismissed. We, therefore, are of the opinion that this is not a question of law. Question No. 2 pertains to the method of valuation. The Tribunal has come to the conclusion that the method adopted by the assessee was not unreasonable. This is ....

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.... had been filed by the Department but the same was dismissed and, thereafter, no application under section 256(2) was filed. It is contended by Mr. Gupta that, in this case, the Department has relied upon the books of account and statement of Surekha who has stated that the money was paid to the company. This is the evidence which has been dealt with by the Tribunal and the Tribunal has found a....