1989 (10) TMI 48

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..... -At the instance of the Revenue, the Incometax Appellate Tribunal has referred the following two questions of law for the decision of this court : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the reopening of the assessment under section 147(b) of the Income-tax Act, 1961, is not valid and that the opinion or advice of the Law ....

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....r of Income-tax (Appeals) held that the reopening of the assessment was bad in view of the decision of the Supreme Court in Indian and Eastern Newspaper Society v. CIT [1979] 119 ITR 996. He also held that the subsidy amount received was only agricultural income and that it cannot be brought to tax under the Income-tax Act. The Appellate Tribunal confirmed the findings of the Commissioner of Incom....