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TMI Blog1995 (11) TMI 464X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 256(2) of the IT Act has prayed that the Tribunal, Jaipur Bench, Jaipur, may be directed to refer the following question of law for the opinion of the High Court as it arises out of the Tribunal's judgment dt. 18th July, 1990 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the interest received by the co-operative socie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en the order passed by the Tribunal. The question, which was sought to be referred, does not arise out of the order passed by the Tribunal. Even otherwise, in the case of the assessee itself, in DB IT Ref. No. 2 of 1988 decided on 13th Nov., 1995'CIT vs. Co-operative Supply Commission Shop Ltd. (1996) 133 CTR (Raj) 38for the asst. yr. 1977-78, an identical question was referred for the opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r otherwise, in order to constitute the business of banking, it is necessary that these activities must be the main source of income of the society. It is equally true that the words which are used in one particular clause have to be given the same colour and understood as forming part of one genus of which they may be different species. The words, `providing credit facilities' would, therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asst. yr. 1977-78. In this view of the matter, we do not find any merit in this application under s. 256(2) of the Act and no referable question of law is made out because the question sought to be referred stands decided by the Division Bench judgment of this Court, as aforesaid. 6. In this view of the matter, no case of calling a reference is made out. The application under s. 256(2) of the IT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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