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Judgment
B.P. Jeevan Reddy, C.J.—By this application u/s 256(2) of the Income Tax Act, 1961, the Revenue is asking for a direction to the Tribunal to state the following question for the opinion of this court:
"Whether, in law and in the circumstances of the case, the Income Tax Appellate Tribunal was justified in holding that the word ''concern'' used in Clause (e) of Sub-section (3) of Section 13 would not include a trust disregarding the fact that the trust is an association of persons and that the Oxford Dictionary, Vol. I, defines a ''concern'' as a property and estate as well and that a concern need not necessarily run for profit ?"
It is brought to our notice that certain other questions raised by the Revenue have been referred by the Tribunal. This particular question was, however, refused.
Learned standing counsel for the Revenue says that the question sought to be referred is a question of law and, since there is no decision of any court on this point, it is eminently a fit case for granting the direction prayed for. On the other hand, learned counsel for the assessee says that the question does not arise from the order of the Tribunal since it was not argued before it. However, on a perusal of the order of the Tribunal, we find that this question was indeed argued and that the Tribunal has expressed its opinion thereon, Since other questions have been referred and this question appears to be connected with those questions, it is but proper that this question also should be referred.
Accordingly, the aforesaid applications are allowed. The Tribunal is directed to draw up a statement of the case accordingly and refer the question mentioned above. No costs.