1986 (6) TMI 22

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..... points. Both these cases arise out of applications made under section 256(2) of the Income-tax Act, 1961, for a direction to the Income-tax Tribunal to state the case and refer for decision by this court the question of law said to arise out of the Tribunal's order. Having heard both sides, we are satisfied that no such direction is required to be made in these cases. The assessee in each cas .....

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..... estions of law said to arise out of the Tribunal's order. That application has been rejected by the Tribunal. Hence, this application under section 256(2) of the Act by the Commissioner of Income-tax. The fact that provision has been made in the accounts of the assessee maintained according to the mercantile system, to provide for the liability it has already incurred during the relevant year un .....

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..... this court following the principle laid down by the Supreme Court in Kedarnath Jute Mfg. Co. Ltd. v. CIT [1971] 82 ITR 363, the question now is merely of an academic character and no useful purpose would be served by requiring the reference to be made for deciding the point concluded in this manner. Consequently, the application made by the Commissioner of Income-tax under section 256(2) of the .....

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