GUPTA V C Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BY this reference under S. 256(1) of the INCOME TAX ACT, 1961 (hereinafter referred to as "the Act"), the Tribunal, Indore Bench, has referred the following questions of law to this Court for its opinion :

(2.) THE material facts giving rise to this reference, briefly, are as follows : The assessee is an HUF and the assessment year in question is 1975 -76. The assessee filed a return on 30th Sept., 1977. The ITO forwarded a draft order for the approval of the IAC under S. 144B of the Act on 28th Aug., 1978, together with the objections submitted by the assessee. In accordance with the directions of the IAC, the assessment order was passed by the ITO on 19th Feb., 1979. Aggrieved by the order passed by the ITO, the assessee preferred an appeal before the CIT(A) who dismissed the appeal. On further appeal before the Tribunal, the assessee was allowed to raise the following ground of appeal.

(3.) OUR answer to question No. (1) referred by the Tribunal is, therefore, in the affirmative and against the assessee. In this view of the matter, question No. (2) does not arise and it is, therefore, not necessary to answer that question. In the circumstances of the case, parties shall bear their own costs of the reference.