COMMISSIONER OF INCOME TAX Vs. RELIANCE INDUSTRIES LTD

JUDGEMENT

(1.) BY this application under s. 256 (2) of the IT Act, 1961, the CIT seeks a direction to the Tribunal to refer four questions which the Revenue wanted the Tribunal to refer in its application under s. 256 (1) of the IT Act, 1961 and the Tribunal has refused to refer the same.

(2.) WE have heard the learned counsel for the assessee. So far as question Nos. 1, 2 and 4 are concerned, we issue Rule returnable on 5th February, 1997. So far as question No. 3 is concerned, it reads as follows :

(3.) THE learned counsel for the Revenue Dr. Balasubramanian, in the above situation fairly conceded that question No. 3 does not arise out of the order of the Tribunal. In that view of the matter, no rule is required to be issued in regard to question No. 3 as it does not arise out of the order of the Tribunal.