COMMISSIONER OF INCOME TAX Vs. RAJ KUMAR BAFNA

JUDGEMENT

(1.) THE Revenue, by this application under Section 256(2) of the Income-tax Act, 1961, has prayed that the Tribunal may be directed to state the case and refer the following question of law for the opinion of the High Court :

(2.) THE Tribunal refused to refer the case on the ground that it was merely a change of opinion by the successor-officer. THE Assessing Officer allowed 30 per cent. investment allowance under Section 30 of the Act to the assessde for the assessment years 1986-87 and 1987-88. THE successor-Assessing Officer reopened the assessment on the ground that once the net profit rate has been applied, there was no justification in allowing the deduction for interest ; secondly, the rate of depreciation on rig machine should be 15 per cent. and not 30 per cent. as allowed in the original assessment and, thirdly, the condition for allowing investment allowance has not been fulfilled by the assessee. THE grounds, on the basis of which the successor-Assessing Officer reopened the assessment, are merely on the basis of the opinion which he holds and which is contrary to the opinion of the predecessor-Assessing Officer.