1989 (3) TMI 125

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....ction 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 Income-tax Appellate Tribunal was legally correct in holding that the interest amount of Rs. 10,650 paid by the assessee-firm to S....

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.... Act. The appeal preferred by the assessee before the Appellate Assistant Commissioner was dismissed. The assessee, thereupon, filed a second appeal before the Tribunal, which was also dismissed. Aggrieved by the order passed by the Tribunal, the assessee sought reference and it is at the instance of the assessee that the aforesaid question of law has been referred to this court for its opinion. ....