COMMISSIONER OF INCOME TAX Vs. SOYA UDYOG LTD

JUDGEMENT

(1.) THIS is an application made by the Revenue (CIT) under Section 256 (2) of the IT Act consequent upon passing of an order dt. 21st Nov. , 1997 (Annex. H), by Tribunal in RA No. 121/ind/1997 whereby the application made by the Revenue under Section 256 (1) of the Act was rejected by the Tribunal holding, inter aha, that no referable question of law arises out of a second appellate order dt. 28th July, 1997, passed by Tribunal in ITA Nos. 834 and 835/ind/1992 (Annesf. F),

(2.) HEARD Shri R. L. Jain, learned counsel for the petitioner.

(3.) HAVING heard learned counsel for the petitioner and having perused record of the case, we are of the view that the questions proposed by the petitioner do arise out of the order passed by the Tribunal and secondly, they are regarded as questions of law, requiring the Tribunal to refer the questions to this Court for answer on their merits.