1989 (1) TMI 90

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....enue is the petitioner herein. The respondent assessee is a firm. It is an abkari contractor. The matter relates to the assessment year 1982-83. Amounts of Rs. 13,65,487 and Rs. 1,14,321 were debited in the profit and loss account, being the kist payable and the interest thereon, respectively, for the assessment year 1982-83. The full amount of kist was not paid by the assessee. There were litigat....

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....tition, for the decision of this court. It was declined by the Appellate Tribunal by its order dated April 30, 1987. Thereafter, the Revenue has filed this original petition, under section 256(2) of the Act, praying that the Appellate Tribunal may be directed to refer the questions of law formulated in para 7 of the original petition for the decision of this court. The questions are as follows : ....

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....sel for the respondent assessee. The Appellate Tribunal has adverted to the decision of this court in Issac's case [1984] KLT 88 as also the decision of the Supreme Court in Kedarnath Jute Manufacturing Co. Ltd. v. CIT [1971] 82 ITR 363 and the decision of the Bombay High Court in CIT v. Babulal Narottamdas [1976] 105 ITR 721. According to the Tribunal, the effect of the decision in Issac's case [....

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....ill arise in this case is regarding the system of accounting followed by the assessee. There is no whisper either in the assessment order or in the order passed by the Commissioner of Income-tax (Appeals) or in the order of the Tribunal stating that the system of accounting followed by the assessee is "mercantile". Only on an express finding on that score, the further question regarding the applic....