A. K. YOG, PRAKASH KRISHNA, JJ.

( 1 ) THESE two references were heard together and are being disposed of by a common judgment as the question of law and facts are overlapping with each other. The Income Tax Appellate tribunal has made these references under Section 256 (1) of the Income Tax Act 1961 (hereinafter referred to as the Act ). The following question of law has been referred in Income tax Reference No. 25 of 1997 for the assessment year 1988 -89:whether scholarship given to the students of employees of the Co. be included in the assessee s income?

( 2 ) WHEREAS in the Income Tax Reference No. 104 of 1995, Income Tax Appellate Tribunal, meerut has referred the following question for the assessment year 1988-89:whether on the facts and in the circumstances of the case the ITAT was legally correct in confirming the order of the lower Appellate Authority by allowing scholarship to the assessees son as exempt?

( 3 ) THE facts of both the above references are identical and the Tribunal while deciding the appeal in the case of Shri Y. K. Seth, giving rise to the reference No. 104 of 1995, has followed its earlier order passed in the case of Shri B. L. Garg giving rise to the refer

Click Here to Read the rest of this document