( 1 ) THE assessee is a Private Limited Company which is in liquidation and is being represented by the Official Liquidator.

( 2 ) THE following three questions have been referred by the Income Tax Appellate Tribunal, Ahmedabad Bench "c" under Section 256 (1) of the Income Tax Act, 1961 (the Act) at the instance of the assessee. " (1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that powers u/s 263 could be exercised by the C. I. T. in respect of an order of the I. T. O. which was to the following effect : "the assessee company untraceable proceedings dropped. " (2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in rejecting the plea of the assessee to the effect that powers u/s 263 could not have been exercised by the C. I. T. in respect of the order in question on the ground that the said order had not been served on the assessee? (3) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in recording a finding that the order of the ITO dropping assessment proceedings was erroneous and prejudicial to the interests of revenue?"

( 3 ) THE assessment ye