1989 (2) TMI 69

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....I, 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 question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal is justified in law in holding that the reassessment made by the Inspecting....

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.... passed by the Commissioner of Income-tax under section 263 of the Act, the assessee had also preferred an appeal before the Tribunal which was allowed and the order passed by the Commissioner of Income-tax under section 268 of the Act was set aside. Hence, the Commissioner of Income-tax (Appeals) set aside the order of reassessment passed by the Inspecting Assistant Commissioner in pursuance of t....

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....y the Inspecting Assistant Commissioner was liable to be set aside. Learned counsel for the Revenue contended that the decision of the Tribunal setting aside the order passed by the Commissioner of Income-tax under section 263 of the Act is the subject-matter of a reference which is pending before this court. If that reference is answered in favour of the Revenue, then the Tribunal would pass such....