1986 (8) TMI 48

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....Income-tax Appellate Tribunal, B-Bench, Allahabad, allowing an appeal filed by the assessee, opposite party, in regard to the assessment year 1975-76, the Commissioner of Income-tax, Allahabad, made an application under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), with a prayer that the following three questions may be referred to this court for its opinion : ....

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....l may be directed to refer the aforesaid three questions to this court for its opinion. Having heard, counsel for the parties, we are of the opinion that question No. 1, referred to above, is a question of law arising out of the appellate order of the Tribunal and a case requiring the Tribunal to refer the said question to this court has been made out. As regards question No 2, we agree with th....