COMMISSIONER OF GIFT-TAX Vs. ASHOK KUMAR OSWAL

JUDGEMENT

(1.) THE application of the Revenue seeking reference of the question of law to this court was rejected by the Income-tax Appellate Tribunal, vide annexure "p-2". It is contended that the Tribunal was not justified in declining to make a reference as admittedly the question of law sought to be referred had not been ascertained, determined or adjudicated by the jurisdictional court.

(2.) WE have heard learned counsel for the parties.

(3.) THE acknowledged position of law is that there is no estoppel against the statute. The reference sought to be made to this court in accordance with the provisions of law cannot be held to be barred either by res judicata or by any other form of estoppel. The mere fact that the Revenue did not pray for making of reference in the case of Rattan Chand Oswal, did not debar them from filing the application in the case of the respondents to get the reference made and the point of law adjudicated. Rather the judgment in favour of the respondent herein might have persuaded the Revenue to get the point of law settled lest it may continue affecting the interest of the Revenue in future as well. The plea raised can not also be termed a pure plea of fact. The reference sought requires the interpretation and application of Section 4 (1) of the Gift-tax Act, 1958, which admittedly has not been interpreted or adjudicated by the jurisdictional court.