(1.) INCOME-TAX Appellate Tribunal, Ahmedabad Bench 'b' has referred the following three questions under Section 256 (2) of the Income-tax Act, 1962 (the Act) at the instance of Commissioner of Income-tax: "whether, the appellate Tribunal is right in law and in facts in entertaining Misc. Application for re-calling the earlier order?" "whether, the appellate Tribunal ought to have appreciated that the Misc. Application sought to review the earlier order, which was not permissible under the provisions of sec. 254 (2) of the ACT ?" "whether, by entertaining and allowing the Misc. application the Appellate Tribunal can be said to have reviewed its order passed in ITA?"
(2.) THE Assessment Year in question is Assessment Year 1985-86. On the basis of search and seizure proceedings in December 1984 at the residential premises of respondent-assessee gold ornaments valued at Rs. 1,24,980/- were treated as unexplained investment and an addition to the extent of the said amount was made by invoking provisions of Section 69a of the Act. The assessee succeeded in first appeal before Commissioner (Appeals) and revenue carried the matter in appeal before the Tribunal. The Tribunal, for the reasons recorded in order dated 27. 06. 1995, allowed the appeal of the revenue.
(3.) THE assessee filed a Misc. Application before the Tribunal praying for recalling of the order and fresh adjudication after considering all the facts and material on record. The said Misc. Application came to be allowed by the Tribunal vide order dated 18. 03. 1996. The material part of the said order reads as under: