COMMISSIONER OF INCOME TAX Vs. BHAGAT AND CO.

JUDGEMENT

(1.) By these applications, on behalf of the Revenue, it is prayed that the Tribunal be directed to refer the following purported question of law to this Hon'ble Court. The question reads as under : 'Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in allowing the assessed's appeal against the order of the AAC dismissing the assessed's quantum appeal, when there were no dispute on the quantum of income as admitted by the assessed in its return ?'

(2.) THE Tribunal rejected the application for making a reference and hence these applications are filed before this Court. The said question was referred on the basis of submissions in para 13 of the application that the Tribunal has held that the provisions of Section 166A (sic) are applicable for the asst. yr. 1976 -77 and onwards. It was also contended that the section is merely clarificatory and confirms the position as it existed regarding the taxability of receipts of a firm even after dissolution. This very question has been examined by a Division Bench of this Court in IT Case No. 230 of 1983, reported in CIT v. Bhagat and Co. : [1990]182ITR212(Delhi) , in the last paragraph of the said report, the Court has pointed out as under :