1986 (2) TMI 100

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....cation filed under s. 256 (1) of the IT Act, has requested the Tribunal to refer following question, said to be question of law arising out of Tribunal's order dt. 20th Sept. 1985 in ITA No. 451/Chandi/84 to the Hon'ble Punjab and Haryana High Court for their esteemed opinion: "Whether on the facts and circumstances of the case the Tribunal was right in law in holding that interest income earne....

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....g of this reference application, the ld. departmental Representative submitted in the immediately preceding year, there was issue regarding renting out of portions of club building and no issue was there regarding interest, when we peruse the order of the Tribunal in earlier year being ITA No. 244 to 257 of 1978-79 pertaining to several asst. yrs. 1971-71 to 1973-74 and also other appeals pertaini....