TMI Blog2001 (8) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... that Tribunal shall refer questions to HC for consideration - HC shall consider whether the Tribunal was right in the order that it passed, having regard to the evidence on record. - - - - - Dated:- 23-8-2001 - Judge(s) : S. P. BHARUCHA., Y. K. SABHARWAL. and ASHOK BHAN. ORDER The Revenue moved the high Court under section 256(2) of the Income tax Act, 1961, seeking a reference of elev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... planation thereto and whether or not it is prospective in nature. In its long judgment declining to call for a reference, the High Court has, in effect, interpreted section 132(4) and its Explanation, which it could not have done without calling for a reference of the concerned questions and hearing it. On this short ground alone, the judgment and order under challenge needs to be set aside. Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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