TMI Blog1995 (12) TMI 32X X X X Extracts X X X X X X X X Extracts X X X X ..... Dewas), has filed this application under section 256(2) of the Income-tax Act, 1961 (for short "the Act"). Briefly stated, the facts of the case are that the applicant is a partnership firm carrying on the business of sale and purchase of cloth. Initially, Smt. Gangabai and her son, Ramehandra, were partners of the firm in equal share. The firm came into existence on March 24, 1974, and was regi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Miscellaneous Civil Case No. 244 of 1979 (Ganga Cut Piece Centre v. CIT [1982] 137 ITR 274 (MP)). It was decided on April 27, 1981, against the applicant. The matter is now said to be pending in the Supreme Court through Special Leave Petition No. 7318 of 1981. On September 26, 1983, it was registered as Civil Appeal No. 8445 (NT) of 1983. A similar question arose for the subsequent assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve heard Shri K. N. Puntambekar, learned counsel for the applicant/assessee, and Shri D. D. Vyas, learned counsel for the non-applicant/Department. Shri Puntambekar submitted that the Tribunal be directed to state the case and refer the proposed questions in view of the pendency of similar questions before the Supreme Court in the aforesaid civil appeal. Shri Vyas, on the other hand, submitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the reference. The point of controversy stands decided by this court against the assessee and the Tribunal having followed the decision of this court, we hold that no referable questions arise in this case. That being so, we reject the application leaving the applicant free to resort to appropriate remedy when the occasion so arises, as noted above, if permissible under the law. There shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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