9911796707
TMI Blog1995 (8) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1961 (for short, "the Act"), the Department has prayed for a direction to the respondent to submit the statement of the case and to refer the questions of law for the opinion of this court, which the Tribunal refused to do by order dated September 8, 1993, passed in Reference Application No. 345/(Cal) of 1993 in Income-tax Appeal No. 421/(Gauhati) of 1988, relating to the assessment year 1985- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The said return was subsequently again revised on July 30, 1987, showing a loss of Rs. 46,99,920 on the ground that the transport subsidy which was shown in the original return as income was not taxable in the year as the same was a capital receipt and not a revenue receipt. Notices were served under sections 143(2) and 142(1) of the Act. The assessee appeared and after the hearing, the Inspectin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding or revenue receipt liable to be taxed. The Tribunal, therefore, held that the lower appellate authority committed an error in confirming the Assessing Officer's order on this point and directed to delete the addition of Rs. 25,27,154 from the total income of the assessee. The Tribunal further directed the Assessing Officer to exclude the sum of Rs. 30,115 which was incurred on account of adve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s follows : "The findings of the Tribunal in regard to both the questions raised by the Commissioner are pure findings of fact based on an appreciation of the entire materials that have been brought on record and there is no point of law involved in them. Hence, we find ourselves unable to agree with the Revenue that any question of law arises out of these findings of the Tribunal." We do not fi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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