- (1.)Heard Mr. R.P. Bhatt, learned senior Counsel for the Petitioner. We find that the appeal filed by the Revenue under Section 260A of the Income-tax Act, 1961 (for short, "the Act") has been admitted by the High Court and two substantial questions of law have been framed for consideration of the appeal.
(2.)The grievance of the Revenue is that by necessary implication, the other questions raised in the memo of appeal before the High Court have been rejected.
(3.)We are afraid that the Revenue is under some misconception. The proviso following the main provision of Section 260A(4) of the Act states that nothing stated in Sub-section (4), i.e., "The appeal shall be heard only on the question so formulated" shall be deemed to take away or abridge the power of the court to hear, for reasons to be recorded, the appeal on any other substantial question of law not formulated by it, if it is satisfied that the case involves such question.