KHODAY DISTILLERIES LTD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Leave granted.

(2.) This civil appeal filed by the assessee seeks to challenge judgment and order passed by the Karnataka High Court dated 1.8.2007 in Gift Tax Appeal No. 2/02. In this civil appeal we are concerned with the assessment year 1987-88.

(3.) Two questions arise for determination in this civil appeal, which are as follows: