Cit Vs. Keshav Kray Vikray Sahkari Samiti Ltd. - Court Judgment

Excerpt:

counsels: j.k. singh, for the revenue s.m. mehta for the assessee in the rajasthan high court, jaipur bench n.n. mathur & s.k. garg, jj. - orderthis is a reference application under section 256(2) of the income tax act, 1961 seeking direction to call the reference from the tribunal on the following question of law :'whether, on the facts and in the circumstances of the case, the tribunal was right in confirming the order of the appellate assistant commissioner who has relied upon supreme court's ruling in the case of cit v. maharashtra sugar mills ltd. : [1971]82itr452(sc) without considering the facts of the two cases ?'2. it is not in dispute that the said question stand answered by the division bench of this court in cit v. keshav kray vikray sahkari samiti ltd. .3. in view of this, no question of law arises from the order of the tribunal. the reference application is rejected.

Judgment:

ORDER

This is a reference application under section 256(2) of the Income Tax Act, 1961 seeking direction to call the reference from the Tribunal on the following question of law :

'Whether, on the facts and in the circumstances of the case, the Tribunal was right in confirming the order of the Appellate Assistant Commissioner who has relied upon Supreme Court's ruling in the case of CIT v. Maharashtra Sugar Mills Ltd. : [1971]82ITR452(SC) without considering the facts of the two cases ?'

2. It is not in dispute that the said question stand answered by the Division Bench of this court in CIT v. Keshav Kray Vikray Sahkari Samiti Ltd. .

3. In view of this, no question of law arises from the order of the Tribunal. The reference application is rejected.