COMMISSIONER OF INCOME TAX Vs. PHAIR LABORATORIES

JUDGEMENT

(1.) THE following question has been, at the instance of the Revenue, referred to this court by the Income-tax Appellate Tribunal, Cochin Bench :

(2.) WHEN these cases were first heard by a Division Bench, a doubt arose as to the ambit of the power under Section 186 of the I.T. Act, 1961 (the "Act"), and they were accordingly referred to a Full Bench.

(3.) AGGRIEVED by these orders, the assessee appealed to the AAC, who by his order dated July 28, 1976, rejected the appeals and confirmed the orders of the Officer. The assessee thereupon appealed to the Tribunal which by its order dated June 21, 1977, accepted the contentions of the assessee, allowed the appeals and set aside the orders of the ITO relating to the assessment years 1966-67 to 1972-73. The assessee did not press its appeal for the assessment year 1965-66.