- (1.) THE CIT has submitted this application under s. 256(2) of the IT Act, 1961, (hereinafter referred to as `the Act') for giving a direction to the Tribunal, Jaipur Bench, Jaipur to draw the statement of the case and to refer the following question of law for the opinion of this Court : "Whether on the facts and in the circumstances of the case, the Tribunal was justified in upholding the finding of the AAC that the assessee company was entitled to the bad debt amounting to Rs. 6,50,340 in the asst. yr. 1967-68 since it became had during the accounting year relevant to the said assessment year ?" We have gone through the order of the Tribunal dt. 22nd Aug., 1979. THE Tribunal had upheld the order of the AAC who had held on the basis of entire evidence no record that the sum of Rs. 6,50,340 had become bad debt in the relevant accounting year. THE Tribunal has also given detailed reasons for holding that the assessee-company was entitled to the bad debt accounting of Rs. 6,50,340 in the asst. yr. 1967-68, since it became bad debt during the accounting year relevant to the said assessment year. This finding has been arrived at by the Tribunal after appreciating the material placed on record and in our view is purely a finding of fact. THE Tribunal by order dt. 25th March, 1980 had thus rightly dismissed the application filed by the Department under s. 256(1) of the Act. In our opinion no question of law arises out of the order of the Tribunal dt. 22nd Aug., 1979. In view of these circumstances we find no force in this reference application and it is accordingly, dismissed with no order as to costs.;