COMMISSIONER OF INCOME TAX Vs. MODIPON LTD

JUDGEMENT

(1.) BY this application under S. 256 (2) of the IT Act, 1961 ('the Act) , the Revenue seeks a direction to the Tribunal to state a case and refer the following questions, stated to be questions of law, arising out of IT Appeal No.3274 of 1985, Pertaining to the asst. yr. 1979-80:-

(2.) WHILE dealing with the Revenue's application under S. 256 (1) , the Tribunal has observed that insofar as question Nos. 1 to 8 and 10 are concerned, reference on similar questions was declined by it in the Revenue's similar application pertaining to the asst. yr. 1977-78. As regards question No. 9, it was of view that since the issue raised is settled by the decision of this Court in Addl CIT vs. Rattan Chand Kapoor (1984) 43 CTR (Del) 283 : (1984) 149 ITR 1 and by the judgment of the supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. vs. CIT (1971) 82 ITR 363, no referable question of law arose, Accordingly, the Tribunal declined to make reference on any of the question proposed. Hence the present application.

(3.) IT is pointed out that in respect of the asst. yr. 1977-78, the Revenue had filed a petition under s. 256 (2) which was the subject matter of ITC N0. 196 of 1992. This application was disposed of Page 3 of 5CTR 21/12/2010file://C:\PROGRAM FILES\html\matter3.htm vide order dt. 22nd Sept., 1994 and it is not disputed that reference on questions similar to question Nos. 1,2,3, and 4, was declined. Following the said order, new decline to call for reference on these questions in respect of the present year as well.