Law: Income Tax Act, 1961

Section: 256,263

Income-tax----Reference---Revision---Appeal to Appellate Tribunal---Tribunal whether correct in setting aside Commissioner's order passed in revision---Mixed question of law and fact which has to be referred---Income Tax Act, 1961, Ss.256 & 263. Held, that the questions whether the Appellate Tribunal was legally correct in holding that the order of the Income-tax Officer was not erroneous and prejudicial to the interests of the Revenue, that the Commissioner of Income-tax had failed to establish .the nexus between the stock found at the time of the search and the assessment under appeal and whether the Tribunal was justified in setting aside the order passed by the Commissioner of Income¬tax under section 263 were mixed questions of law and fact which had to be referred. JUDGMENT These are three applications made by the Revenue under section 256(2) of the Income Tax Act, 1961, requiring us to direct the Incometax Appellate Tribunal to draw up a statement of the case in all the matters and refer the following common questions to this Court for its opinion: "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is correct in law in setting aside the order…

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