PREMIER PROTEINS LTD Vs. CIT

JUDGEMENT

(1.) THIS is an application made by the assessee under section 256(2) of the Income Tax Act consequent upon the dismissal of their application made under section 256(l) of the Act by the Tribunal in R.A. No. 114 and 115/Ind/98 which in turn arise out of the order passed by the Tribunal dated 14 -05 -1998 in ITA No. 514/lnd/92 and 924/Ind/94 relating to assessment year 1988 -89 and 89 -90.

(2.) ACCORDING to assessee, the Tribunal was not right in dismissing the application made by the assessee under section 256(l) of the Act for making the reference to this court on the questions proposed and hence, need to make this application under section 256(2) of the Act before this Court.

(3.) HAVING heard learned counsel for the parties and having perused record of the case, we too are of the view that application does not involve any referable question of law in this court for being answered on merits under section 256(l) of the Act and hence, this application in liable to be dismissed.