1989 (2) TMI 31

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.... G. SOHANI, ACTG. C. J.-By this reference under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Indore Bench, has referred the following questions of law to this court for its opinion "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in holding that where an assess....

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....to the income declared by the assessee. The Income-tax Officer made a reference under section 144B of the Act to the Inspecting Assistant Commissioner. In accordance with the directions given by the Inspecting Assistant Commissioner, the Income-tax Officer passed an order of assessment. The Commissioner of Income-tax, exercising powers under section 263 of the Act, held that the order passed by th....

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.... matter, the Tribunal set aside the order., passed by the Commissioner of Income-tax. Aggrieved by the order passed by the Tribunal, the Revenue sought reference and it is at the instance of the Revenue that the aforesaid questions of law have been referred to this court for its opinion. At the time of hearing, learned counsel for the parties conceded that the matter arising in this case was go....