PREMIER PROTEINS LTD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is an application made by assessee under Section 256{2) of the IT Act consequent upon the dismissal of their application made under Section 256 (1) of the Act by the Tribunal by order dt. 27th Jan. , 1997, passed in RA Nos. 114/115/ind/1998 which in turn arises out of an order dt. 14th May, 1998, passed in ITA Nos. 514/ind/1992 and 924/ind/1994 by the Tribunal. In the opinion of Tribunal, since the questions proposed are essentially based on questions of facts and are in fact questions of fact involving no legal issue as such which may attract the jurisdiction of High Court to answer the same on merits under Section 256 (1) ibid and hence, the Tribunal declined to make the reference to this Court. It is then the assessee has come up under Section 256 (2) of the Act by making this application asking this Court to call for reference to answer following questions of law :

(2.) HEARD Shri G. M. Chafekar, learned senior counsel, with Shri D. S. Kale, learned counsel for the applicant, and Shri R. L. Jain, learned counsel for nonapplicant.

(3.) HAVING heard learned counsel for the parties and having perused record of the case, we are of the view that Tribunal was right in dismissing the application made by an assessee under Section 256 (1) of the Act. In other words, while concurring with the view taken by the Tribunal, we too hold that questions proposed by the assessee are questions of fact and that really do not arise out of the appellate order of the Tribunal.