COMMISSIONER OF INCOME TAX Vs. SUBHASH CHAND GOYAL

JUDGEMENT

(1.) THE CIT, Agra, has filed the present application under S. 256(2) of the IT Act, 1961, for a direction to the Tribunal, Delhi Bench, Delhi, to draw up a statement of the case and to refer the following two questions of law for opinion to this Court :

(2.) WE have heard Sri A. N. Mahajan, learned counsel appearing for the CIT and Sri Rajesh Kumar, learned counsel appearing on behalf of the assessee -opposite party.

(3.) THE first appeal filed by the assessee -opposite party was rejected by the CIT(A). However, in the second appeal filed by the assessee -opposite party, the Tribunal vide order dt. 5th March, 1997, had allowed the appeal and had set aside the assessment order on the ground that it had been passed beyond the period of limitation prescribed for making the assessment for the assessment year in question. The Tribunal also declined to refer the questions of law proposed by the CIT for the opinion to this Court.