1987 (8) TMI 23

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....er is a public limited company. It is an assessee to income-tax. The respondent is the Revenue. The matter relates to the assessment year 1975-76. The petitioner prays that the following two questions of law formulated in para. 8 of the original petition may be directed to be referred to this court for decision by the Appellate Tribunal: "(i) Whether the Tribunal was right in law in confirming ....

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....Tribunal. The assessee filed an application under section 256(1) of the Income-tax Act praying that the two questions of law formulated in para. 8 of the original petition may be referred to this court for decision. Two other questions were also formulated for reference. The Appellate Tribunal referred questions Nos. 3 and 4 but refused to refer questions Nos. 1 and 2 which are formulated in para.....

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....ication. In the light of the above Division Bench decision of this; court, we are of the view that question No. 1, formulated hereinabove, is not referable question of law. The second question is regarding the disallowance of a sum of Rs. 2,01,788 being the loss on shortage of sulphur. The Appellate Tribunal, on the basis of materials on record, came to the conclusion that the claim of loss ....