2004 (3) TMI 14

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..... e had earlier filed application u/s 256(1) requiring the Tribunal to refer this question to this court. The said application was rejected by the Tribunal on the ground that it had already rejected the Revenue's reference application against the quantum appeal - Revenue has brought to our notice that reference petition u/s 256(2) in the quantum appeals have already been allowed by this court and th .....

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..... r the following question of law arising out of its order dated March 26, 1996, for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in confirming the order of the Commissioner of Income-tax (Appeals), who deleted the penalty of Rs. 3,07,882 under section 271(1)(c) of the Income-tax Act, 1961, for the assessm .....

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..... eferred the question of law arising out of its order in those appeals which are listed as I.T.R. Nos. 204 to 208 of 1999. In view of the above, we are satisfied that the Revenue deserves to succeed. Accordingly, we allow this petition with the direction to the Tribunal to prepare a statement of the case and refer the following question of law for the opinion of this court: "Whether, on the fac .....

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