GOA SEA FOODS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The Income Tax Appellate Tribunal has referred the following questions of law arising out of its common appellate order dated 6-3-1986 and rendered in LT. A No. 758 (Coch)/1983 and I.T.A.No.778 (Coch)/1983, for the assessment year 1978-79. In ITA No. 758(Coch)/19S3, the assessee was the applicant. In I.T.A. No. 778(Coch)/1983, the Revenue was the applicant. The following questions of law have been referred, at the instance of the assessee and at the instance of the Revenue, for the decision of this Court, by the Income Tax Appellate Tribunal:

(2.) It may not be necessary to answer all the questions referred by the Appellate Tribunal, since question No.2 in I.T.R.No.83 of 1987, is a fundamental or vital one which has its impact on the validity of the assessment itself. The other questions arise in disposing of the assessment finally. In the light of our answer to question No.2, referred to this Court, at the instance of the assessee, in I.T.R.No. 83 of 1987, it may not be necessary to deal with the other questions, at this stage.

(3.) Question No.2, referred to this Court, at the instance of the assessee in I.T.R. No.83 of 1987, has not been drafted precisely or with care. It is indeed a matter of regret. In Para.2 of the statement of the case, dated 6-5-1987, the Appellate Tribunal has stated the relevant plea as follows: