Law: Income Tax Act, 1961

Section: 256,263

Income-tax----Reference---Revision--Finding that assessment was not erroneous and prejudicial to Revenue and that revision was not justified---Finding of fact---No question of law arose---Indian Income Tax Act, 1961, Ss. 256 & 263. Held, dismissing the application for reference, that in this case the Tribunal had examined the evidence and found that the assessment as framed by the Income-tax Officer had been made by him after conducting proper enquiries and the Commissioner of Income-tax was not justified in setting aside the said assessment on the ground of the same being erroneous and prejudicial to the interests of the Revenue. This was a pure finding of fact. No question of law arose from the order of the Tribunal. JUDGMENT B. R. ARORA, J.---The Revenue, by this application under section 256(2) of the Income Tax Act, 1961, has prayed that the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, may be directed to refer the following questions of law for the opinion of this Court: "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the order passed by the Assessing Officer on February 1, 1989, was not erroneous and prejudicial to the interests of the Revenue? (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in holding that the Commissioner of Income-tax was not justified in passing order under section 263 of the Income Tax Act, 1961?" The brief facts, which led to the present controversy, are that the assessee, which is registered firm, derived its income from the trade of silver ornaments. For the assessment year 1988-89, the assessment was completed by the assessing authority on February 1, 1989, under section 143 of the Act who assessed the income of Rs.61,160 as against Rs.41,060 declared by the assessee. The Commissioner of Income-tax, Jodhpur, while exercising his powers under section 263. of the Act, was of the opinion that the assessment made by the Income-tax Officer was erroneous and prejudicial to the interests of the Revenue. While arriving at these findings, the Commissioner of Income-tax was of…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492