- (1.) At the instance of the Commissioner of Income-tax, Lucknow, the Income-tax Appellate. Tribunal has referred the following question under Section 256(1) of the Income-tax Act, 1961 (briefly, "the Act") : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the provisions of Section 187 of the Income-tax Act, 1961, were not applicable and that there were two separate firms during the previous year liable to be assessed separately?"
(2.) A notice was sent to the assessee by registered post long before. The registered cover has not been received back undelivered and, therefore, the assessee is presumed to have been served with the notice.
(3.) List has been revised. None appears for the assessee and we have, therefore, heard learned standing counsel only for the applicant.;