Commissioner of Income Tax vs bharat commerce and ind. ltd.

Arijit Pasayat, C.J.

Pursuant to directions given by this court, the following question has been referred for opinion of this court u/s 256(2) of the Income Tax Act, 1961 (hereinafter referred to as the Act) by the Tribunal, Delhi Bench ''C'' :

"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in cancelling the order passed by the Income Tax Officer u/s 154 for the assessment year 1962-63 by holding that there was no mistake apparent from record for action u/s 154?"

Dispute relates to the assessment year 1962-63.

Though the question refers to the legality of the order u/s 154, we find that the same is really of academic interest in view of the fact that for the assessment year in question, decision of the Apex Court in Commissioner of Income Tax, Gujarat Vs. Elecon Engineering Co. Ltd., would be applicable. Therefore, what the Income Tax Officer had originally done is in line with the decision of the Apex Court. That being the position, the answer to the question is really of academic interest. Additionally, we find that the paper book has not been filed and nothing is on record except the statement of case. Therefore, we decline to answer the question and the reference is returned unanswered.