COMMISSIONER OF INCOME TAX Vs. MODIPON LTD

JUDGEMENT

(1.) BY this petition under S. 256(2) of the INCOME TAX ACT, 1961 (for short the Act), the Revenue seeks a direction to the Income -tax Appellate Tribunal (for short the Tribunal) to state a case and refer the following questions, said to be questions of law and arising out of ITA No. 3317/Del/85 pertaining to the asst. year 1977 -78 :

(2.) WE have heard learned counsel for the parties.

(3.) WITH regard to questions Nos. 2, 3, 7, 8 and 9, it is not disputed by Mr. Gupta, learned counsel for the Revenue, that in the case of the assessee itself reference on similar questions in respect of earlier assessment years has been declined by the Allahabad High Court in CIT vs. Modipon Ltd. (1991) 189 ITR 344 (All) and CIT vs. Modipon Ltd. (1991) 189 ITR 478 (All). Having regard to these decisions, in our opinion the proposed questions are not statable questions of law.