Cit vs Bharat Commerce & Ind. Ltd.
2001 Latest Caselaw 1103 Del

JUDGMENT

Arijit Pasayat, C.J.

Pursuant to directions given by this court, the following question has been referred for opinion of this court under section 256(2) of the Income Tax Act, 1961 (hereinafter referred to as the Act) by the Tribunal, Delhi Bench 'C' :

"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in cancelling the order passed by the Income Tax Officer under section 154 for the assessment year 1962-63 by holding that there was no mistake apparent from record for action under section 154?"

Dispute relates to the assessment year 1962-63.

2. Though the question refers to the legality of the order under section 154, we find that the same is really of academic interest in view of the fact that for the assessment year in question, decision of the Apex Court in CIT v. Elecon Engg. Co. Ltd. (1987) 167 ITR 639 would be applicable. Therefore, what the Income Tax Officer had originally done is in line with the decision of the Apex Court. That being the position, the answer to the question is really of academic interest. Additionally, we find that the paper book has not been filed and nothing is on record except the statement of case. Therefore, we decline to answer the question and the reference is returned unanswered.

2. Though the question refers to the legality of the order under section 154, we find that the same is really of academic interest in view of the fact that for the assessment year in question, decision of the Apex Court in CIT v. Elecon Engg. Co. Ltd. (1987) 167 ITR 639 would be applicable. Therefore, what the Income Tax Officer had originally done is in line with the decision of the Apex Court. That being the position, the answer to the question is really of academic interest. Additionally, we find that the paper book has not been filed and nothing is on record except the statement of case. Therefore, we decline to answer the question and the reference is returned unanswered.