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TMI Blog1992 (2) TMI 113X X X X Extracts X X X X X X X X Extracts X X X X ..... The department filed the R.A. and three questions were proposed. The Tribunal held that only following two questions need to be referred: " 1. Whether in law and on facts, the Appellate Tribunal is right in holding that the assessee trust is entitled to exemption under section 5(1)(xxiii) of the Wealth-tax Act, 1957 ? 2. Whether in law and on facts, the Appellate Tribunal is right in directing the WTO to allow deduction of Rs. 7,43,270 being the aggregate market value of the interest of the beneficiaries as also deduction of Rs. 1,50,000 from the bank balance as exempt under section 5(1)(xxiii) of the WT Act, 1957 ? " 3. The assessee's representative filed the miscellaneous application on the ground that out of the two questions refer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of the Tribunal at any stage, even if the matter is pending before the High Court, in the light of the decision of the Supreme Court, the Tribunal can rectify the mistake. 5. We are afraid that the reliance upon the ratio of the above referred case by the authorised representative is out of context. In the above referred case, the question before the Supreme Court was in connection with the granting of stay, even if the subject matter of the dispute is pending before the High Court or Supreme Court under reference application under section 256. The power of rectification specifically given to the Tribunal by virtue of section 254(2) is very clear to the effect that the Tribunal's power is confined to amend any order passed by sub-secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orm, then, the higher Courts either vide section 27(5) may require the Appellate Tribunal to make such modification therein as it may direct; or vide section 27(6) the higher Courts "upon hearing such case, shall decide the question of law raised therein, and in doing so, may if it thinks fit, out of the form of the question of law, shall deliver the judgment thereon containing the ground on which such decision is founded and shall send a copy of the judgment under the seal of the court and signature of the Registrar, to the Appellate Tribunal and the Appellate Tribunal shall pass such order as is necessary to dispose the case conformable to such judgment ". 8. Thus section 27(1), read with sections (5) (6) makes it clear that the state ..... X X X X Extracts X X X X X X X X Extracts X X X X
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