Law:

Section:

Section 254, read with section 256 of the Income-tax Act, 1961 - Appellate Tribunal - Order of - Assessment year 1971-72 - Whether findings of Tribunal that there was a business activity carried on by assessee, and consequently, certain expenditure was allowable as business expenditure, was a finding of fact and no question of law arose from said finding of Tribunal - Held, yes FACTS The Tribunal held that there was a business activity carried on by the assessee during relevant assessment year, and consequently, certain expenditure was allowable as business expenditure. The reference application made by the revenue was also rejected. On an application under section 256(2) : HELD The question whether the assessee was carrying on any business activity or not depends upon the facts found by the Tribunal. In the instant case, the Tribunal had found as a fact that the assessee was carrying on business. Therefore, no question of law arose from the aforesaid conclusion of the Tribunal. Note : The case has been decided in favour of the assessee. Rajendra and D.C. Taneja for the Applicant. C.S. Aggarwal for the Respondent. JUDGMENT B.N. Kirpal, J.-The petitioner seeks a direction to the Tribunal to state the case and refer the following questions of law to this court: "(i)Whether, on the facts and in the circumstances of the case, the Tribunal is legally correct in holding that there was business activity during the year and that,…

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