1988 (3) TMI 3

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....s delivered by Y. V. ANJANEYULU J.-This reference arising under the Income-tax Act, 1961 (for short "the Act"), relates to the assessment year 1980-81. It is made at the instance of the Commissioner of Income-tax by the Income tax Appellate Tribunal. The question referred for the consideration of this court is : "Whether, on the facts and in the circumstances of the case, the Income-tax Appe....

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....also pointed out that an appeal against the aforesaid claim of the Employees' State Insurance Department was filed in the Employees' Insurance Court and by its judgment dated January 28, 1978, the assessee's claim was accepted by the Employees' Insurance Court. Even so, the Employees' State Insurance Department filed an appeal in the High Court against the judgment and order dated January 28, 1978....

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....unal allowed the assessee's claim. Aggrieved by that, the present reference is sought by the Commissioner of Incometax. There is no dispute before us that the assessee maintained accounts on the mercantile system. It is also not in dispute that if the assessee was liable under the Employees' State Insurance Act, the provision of Rs. 50,000 made by the assessee would be adequate. The short quest....

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.... the matter is at large and no finality was reached. This principle directly flows from the decision in the case of J. K. Synthetics Ltd. v. O. S. Bajpai, ITO [1976] 105 ITR 864 (All) and also from the decision of the Supreme Court in CIT v. Hindustan Housing and Land Development Trust Ltd. [1986] 161 ITR 524. We are also fortified in this view by the decision of this court in CWT v. Amatul Kareem....