Law: Income Tax Act, 1961

Section: 256(2)

Income-tax----Reference---Question of law---Trusts---Question regarding genuineness of !rust was a question of fact---No question of law arose out of Tribunal's Order---Order of High Court allowing Revenue's application under 5.256(2) set aside---Indian Income Tax Act, 1961, S. 256(2)---[CIT v. Prem family Private (Specific) Trust (9961 217 ITR 546 reversed]. Where the Tribunal held that the assessee-trust was a genuine one but, however, the High Court allowed the Revenue's application for reference under section 256(2) of the Income Tax Act, 1961, on appeal to the Supreme Court: Held, allowing the appeal, that no question of law arose out of the Tribunal's order end the only question involved was a pure question of fact regarding the genuineness of the trust. In the facts of the present case, no occasion arose for application of any principle of law at any stage for deciding this question relating to the genuineness of the trust and, therefore, there was no basis to hold that a question of law arose out of the Tribunal's order. The order made by the High Court allowing the Revenue's application under section 256(2) of the Income-tax Act, 1961, had, therefore, to be set aside. CIT v.…

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