1992 (9) TMI 3

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..... tion made under section 256(2) of the Income-tax Act, 1961, declining to direct the Income-tax Appellate Tribunal to state the case and refer to it for decision the questions of law said to arise out of the Tribunal's order, which are the following, namely : " (1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the Income-tax Officer was not just .....

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..... are was declared by M/s. Birla Brothers for this year and merely because dividend of Rs. 200 per share was declared on these shares during the next year, i.e., for the year ending after the date the shares were sold to M/s. Maharashtra Commodities Trading Co. P. Ltd., it cannot be said that this fact was sufficient in itself to invoke the provisions of section 52(2) of the Act without giving a fin .....

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..... ment or concealment is on the Revenue ; and the sub-section has no application in the case of a bona fide transaction where the consideration received by the assessee has been correctly declared. In view of the finding of fact recorded by the Tribunal, there was no question of invoking section 52(2) of the Act. The. High Court was, therefore, right in refusing to call for the reference from the Tr .....

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