1992 (3) TMI 18

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..... der section 256(2) of the Income-tax Act, 1961, to this court for directing the Income-tax Appellate Tribunal to state the case and refer the following question of law for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in allowing investment allowance of Rs. 35.83 lakhs on the ground that it had allowed the claim for the asses .....

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..... has become infructuous. The reference application under section 256(1) of the Act was rejected. In the present case, when an appeal was preferred before the Income-tax Appellate Tribunal, the assessee submitted that the investment allowance which has been allowed for the assessment year 1977-78 should be considered for the assessment year 1978-79 in case the High Court decides the matter against .....

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