ASSAM COMPANY LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BOTH these petitions under Section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), have raised common questions of law as noted, they were heard together and are being disposed of by a common order.

(2.) CIVIL Rule No. 14(M) of 1992 is directed against the order dated December 5, 1991, passed by the Tribunal rejecting Reference Application No. 104/(Gau) of 1991 arising out of Miscellaneous Petition No. 25 of 1990, I. T. A. No. 156 of 1988 pertaining to the assessment year 1983-84, rejecting the petitioner's application under Section 256(1) of the Act, refusing to refer the questions of law to this court.

(3.) SO far as it relates to C. R. No. 14(M) of 1992, there is an added feature, namely, that the assessee had moved an application praying for rectification of certain mistakes in the Tribunal's order dated April 24, 1990. This application was rejected by the Tribunal, vide order dated October 8, 1990. The petitioner filed yet another miscellaneous application registered as 34 of 1990 contending, inter alia, that the Tribunal erred in rejecting the first application without affording any opportunity of hearing to the petitioner along with this application. The petitioner also filed a reference application registered as Application No. 90 of 1990. The Tribunal allowed Application No. 34 of 1990 by its order dated January 29, 1991, recalling its earlier order dated October 8, 1990, and rejected Reference Application No. 90 of 1990 arising out of the rejection order as having become infructuous. Miscellaneous Application No. 25 of 1990 was heard afresh, after giving full opportunity of hearing to the petitioner, but ultimately it was dismissed by order dated May 7, 1991, as per annexure-10 in Civil Rule No. 14(M) of 1992. Aggrieved by this order, the petitioner filed Reference Application No. 104 of 1991 seeking reference of the following questions of law :