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Section 254 of the Income-tax Act, 1961 - Appellate Tribunal - Order of - Assessment year 1991-92 - Whether since Tribunal passed order in total ignorance of decision of Supreme Court between same parties, instant case would be a fit case in which revenue should file an application under section 254(2) and bring to notice of Tribunal said decision of Supreme Court so that it might pass appropriate order in accordance with provisions of law and law laid down by Supreme Court - Held, yes CASE REFERRED TO CIT v. Madras Race Club [2002] 255 ITR 99/[2003] 126 Taxman 6 (Mad.) [Para 1]. R.L. Jain for the Appellant. ORDER 1. The above-named appellant being aggrieved by the order of ITAT No. ITA/461/Ind./1995 dated 7-2-2003 for assessment year 1991-92 prefer this appeal as under : Facts in brief The facts of the case in brief are that the assessee is a Regd. Firm being assessed to Income-tax for many years. The assessee-firm submitted its return of income on 31-10-1991 declaring Total Income at Rs. 3,89,029. The assessee-firm also filed the copies of Trading and profit and loss account and balance sheet. Shri R.L. Jain, LC for the Revenue is heard on the question of admission of the appeal which has been preferred under section 260A of the Income-tax Act, 1961 against the order dated 7-2-2003 passed by the Income-tax Appellate Tribunal, Indore Bench, Indore, In I.T.A. 461/Ind/1995 relating to the assessment year 1991-92 and C.O. No. 35/Ind/95 (arising out of I.T.A. No. 461/Ind/95 relating to the assessment year 1991-92). Learned counsel for the Revenue brought to our notice the extract of the decision of the Supreme Court between the same parties in S.L.P. (Civil) No. 159 of 2002 and R.P. No. 198 of 2002 dated 18-1-2002. The extract has been reproduced in CIT v.Madras Race Club [2002] 255 ITR 991 (Mad.) under the heading "From Our Reporter at the Supreme Court". As per the extract, the Hon'ble Supreme Court has held that additions made…

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