9911796707
TMI Blog1986 (8) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... een earned because of exports made by the assessee of certain commodities in a particular year. He further observed that many businessmen exported goods very often at lower rates or even at loss so as to obtain import entitlements which when utilised would grant them profits and compensate them for loss suffered earlier in export of goods. Consequently, the amount received on sale of import entitlements formed part of revenue receipts and that they did not constitute capital receipts. 2. In the appeals filed by the assessee, the learned Commissioner (Appeals) observed that the point in controversy had been decided by the Tribunal in the appeal for the assessment year 1978-79 by order dated 30-4-1983 against the assessee. The learned Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat apart from the above ground on merits one ground was raised by the assessee to the effect that the learned Commissioner (Appeals) had erred in rejecting the application for adjournment, filed by the assessee before him and in deciding the appeals in the absence of the assessee. Since the ground on merits is bound to be decided against the assessee in view of the decision of the Bombay High Court, this ground become infructuous. 5. At the time of hearing, the learned representative for the assessee filed before us declaration under section 158A(1) of the Act claiming that identical question of law was pending before the Bombay High Court. Section 158A(1) lays down that where an assessee claims that any question of law arising in his c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the High Court seeking to require the Tribunal to refer the said question. It is admitted before that the High Court has not yet passed any order of the said application. Consequently, it cannot be said that an identical question of law was pending before the High Court on reference. In this view of the matter provisions of section 158A are not applicable at this stage. It is only when the statement of the case is submitted by the Tribunal before the High Court under section 256(1) or when the High Court calls for the statement of the case with direction to refer the particular question to it under section 256(2) that it can be said that particular question was pending on a reference under section 256 within the meaning of that expression i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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