BALASUBRAHMANYAN J.

The question referred to us by the Income-tax Appellate Tribunal in this reference reads as follows :

"Whether, on the facts and in the circumstances of the case, the Tribunal was correct in uphlding the order of the commissioner of Income-tax ?" *

The question does not indicate what the order of the Commissioner of Income-tax was, on what basis the Tribunal upheld it as correct, and what was nature of the controversy raised by the assessee on it. A perusal of the sated case, however, tell us what the question is all about, a mercy for which we must be thankful. The assessee is a partnership firm carrying on A business of its own. It also indulged in a joint venture in sugar in association with certain other firms. While returning its income for 1969-70, the assessee displayed therein its share income from the joint venture. The Income-tax Officer accepted the return as he found it, and made an assessment on the basis of the return, charging to tax the total income income from the joint venture. Subsequently, the Commissioner of Income-tax initiated proceedings for suo moturevision under section 263 of the Income-tax Act, 1961, on the score that the In