1988 (9) TMI 37

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..... TG. C. J.-This is an application under section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). The material facts giving rise to this application, briefly, are as follows During the assessment proceedings for the assessment year 1975-76, the accounting year for which ended on December 31, 1974, the assessee contended that its business was set up from the commencement of .....

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..... n by the Inspecting Assistant Commissioner (Assessment) was affirmed by the Commissioner of Income-tax (Appeals). The assessee, therefore, preferred a further appeal before the Tribunal. The Tribunal found, after appreciating the entire material on record, that neither actual production had started before December 14, 1974, nor had raw material been purchased, nor orders procured. The Tribunal fur .....

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..... record, found that the business of the assessee was set up on December 14, 1974. This is a finding of fact. As no question of law is shown to arise out of the order passed by the Tribunal, the application deserves to be rejected. The application accordingly fails and is rejected. In the circumstances of the case, parties shall bear their own costs of this application.
Case laws, Decisions, J .....

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