COMMISSIONER OF INCOME TAX Vs. MAHAVEER DRILLING COMPANY

JUDGEMENT

(1.) HEARD learned counsel for parties. This is an application under section 256(2) of the Income Tax Act, 1961, at the instance of the Revenue and the following questions of law have been framed for calling for the statement of the case :

(2.) IT is a debatable matter whether after the decision of the apex court in the case of CIT v. N. C. Budharaja and Co. : [1993]204ITR412(SC) , whether section 154 of the Income Tax Act can be invoked or not. Let the statement of the case be called from the Tribunal on the aforesaid questions of law.