9911796707
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1. Validity of reassessment proceedings initiation. Analysis: The judgment involves a reference application by the CIT, Bhopal to the Tribunal regarding the validity of reassessment proceedings initiation. The Tribunal acknowledged the dispute over legal principles and proceeded to draft a statement of the case for referral to the High Court. However, the assessee contended that no question of law arose based on a Supreme Court decision. The Tribunal considered arguments from both parties, with the assessee asserting that the suggested question was a question of fact. The Departmental Representative argued that a referable question of law existed. The Tribunal noted that the final statement had not been drawn up or referred to the High Court, allowing reconsideration of the matter. It cited the Gujarat High Court decision in support of this view, rejecting the Revenue's contention that reconsideration was not permissible at that stage. The Tribunal found support in the Supreme Court decision in CIT vs. Lakhiram Ramdas, where it was held that no question of law arose in a similar reassessment scenario. Drawing parallels, the Tribunal concluded that no question of law arose from its order of 29th Jan., 1982, and declined to state the case. The judgment was based on the principle that intermediary steps in a reference application are provisional until the final statement is prepared and referred to the High Court. As the final statement had not been drawn up, the Tribunal retained the authority to reconsider the matter, determining whether the question was one of law or fact. Ultimately, the reference application was dismissed, affirming the Tribunal's decision not to refer the case to the High Court.
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