IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX APPLICATION NO. 424 OF 1999 TAX APPLICATION NO. 424 OF 1999 TAX APPLICATION NO. 424 OF 1999 M/s.Hotel Kiran. ... Applicant. V/s. The Commissioner of Income Tax, Kolhapur and another. ... Respondents. P.J.Pardiwala, senior counsel with Ms.Aasifa Khan i/b. V.B.Joshi and S.M.Lala for the applicant. Vimal Gupta for the respondents. CORAM CORAM CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. : V.C.DAGA AND J.P.DEVADHAR, JJ. : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED DATED DATED : 20th April 2009. : 20th April 2009. : 20th April 2009. P.C. P.C. P.C. : : : ---- ---- ---- . Heard learned counsel for the rival parties. Perused application. 2. The reference application made under section 256(1) of the Act by the applicant- assessee came to be rejected by the Tribunal. Consequently, the assessee has come with the present application. By this application, filed under section 256(2) of the Income Tax Act, 1961 ("Act" for short), the applicant- assessee has sought direction to the Tribunal to refer the questions mentioned in the application. The application was admitted to consider following two questions: "(1) "Whether on the facts, in the circumstances of the case and as per law the Tribunal is justified in holding that a statement u/s. 132(4) though retracted is an admission and binding on the assessee, without considering other evidence available on record? (2) Whether on the facts, in the circumstances of the case and as per law, the Tribunal is justified in confirming the addition pertaining to the alleged suppression of sales in respect of the years prior to A.Y. 1993-94 when admittedly no specific opportunity to the assessee was given u/s. 142(3) or u/s. 143(2) on this issue by the Assessing Officer as required u/s. 158BC before making the addition? 3. Having heard both parties, we are satisfied that the above questions of law need authoritative decision of this Court, hence the Tribunal is directed to forward the statement of case with regard to the aforesaid questions so as to enable this Court to decide the same. 4. In the result, application is made absolute in terms of this order with no order as to costs. (J.P.DEVADHAR, (J.P.DEVADHAR, (J.P.DEVADHAR, J.) J.) J.) (V.C.DAGA (V.C.DAGA (V.C.DAGA J.) J.) J.)