- (1.) By this reference application, the following questions are referred for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the provisions of Section 263 of the Income-tax Act, 1961, as amended by the Finance Act, 1988, would not be available to the Commissioner of Income-tax in this case ?"
(2.) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in cancelling the order of the Commissioner of Income-tax under Section 263 of the Income-tax Act, 1961 ?" 2. The assessee is a limited company. It has filed a return on December 31, 1983, showing total income for the year Rs. 2,89,275 and also claim for deduction under Sections 80M and 80W. After setting off earlier years' unabsorbed loss and depreciation to the tune of Rs. 2,74,135, the net income of Rs. 4.390 has been shown by the assessee. The relevant assessment year is 1982-83 for the accounting period ended on December 31, 1981. After examining the books of account and materials placed before the Assessing Officer, he computed the income of the assessee at Rs. 4,08,404. Against that order, the assessee preferred an appeal before the Commissioner of, Income-tax (Appeals). The Commissioner of Income-tax (Appeals) has passed an order in appeal on December 27, 1985. Thereafter, the Commissioner of Income-tax has issued a notice for revision of the assessment order under Section 263 on the ground that the assessee has claimed service charges and vehicle hire charges amounting to Rs. 6,65,162 and Rs. 18,900 respectively, accruing in the assessment year 1982-83. That has not been properly enquired into by the Income-tax Officer. Therefore, the assessment order was set aside with a direction upon the Assessing Officer to examine and give opportunity to the assessee and reconsider whether service charges and vehicle hire charges amounting to Rs. 6,65,162 and Rs. 18,900 can be allowed. The order of the Commissioner of Income-tax under Section 263 of the Act has been challenged by the assessee before the Income-tax Appellate Tribunal. The Income-tax Appellate Tribunal following the decision of this court in the case of General Beopar Co. (Pvt.) Ltd. v. CIT [1987] 167 ITR 86, set aside the order of the Commissioner of Income-tax under Section 263 of the Act and restored the assessment order which was set aside by the Commissioner of Income-tax under Section 263 of the Act.
(3.) None appears for the assessee.;