CIT Vs. VIJAYKUMAR RAJENDRAKUMAR & CO.

JUDGEMENT

(1.) THIS is an application made by revenue (Commissioner of Income Tax) under section 256(2) of the Income Tax Act consequent upon the rejection of their application made under section 256(1) of the Act by the Tribunal (ITAT) dated 20 -10 -1997 in R.A. Nos. 32 and 33/Ind/97 which in turn arises out of ITA Nos. 784 and 785/Ind/92.

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

(3.) PERUSAL of the question framed by this court in ITR No. 64 of 1997 by order dated 17 -7 -2002 indicate that it has also framed the question in respect of the assessment year 1987 -88 in addition to assessment year 1986 -87. In other words, so far ITA 64 of 1997 is concerned, it arose out of the assessment year 1986 -87 whereas I.T.A. No. 63 of 1997 (i.e., present reference) arose out of assessment year 1987 -88.