- (1.) THE Tribunal, Delhi, has referred following question of law under s. 256(2) of the IT Act ,1961 (hereinafter referred to as the Act) for opinion to this Court : "Whether on the facts and in the circumstances of the case, the Tribunal was legally right in upholding the order of the Dy. CIT(A) whereby a direction has been made to make a substantive assessment in this case -
(2.) WE have heard Sri Shambhu Chopra, learned standing counsel for the Revenue. held the similar trust to be a valid trust. Thus the question referred to is answered in favour of the assessee and against the Revenue. There shall be no order as to costs.;