MOVIE DISTRIBUTORS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE two cases, namely, Income-tax Reference Cases Nos. 221 and 222 of 1983 are disposed of by the following common order as they have come before us on a reference made by the Income-tax Appellate Tribunal, Bangalore Bench (hereinafter referred to as "the Tribunal"), together with the statement of cases which are not different from each other except that they relate to different assessment years. The first of the cases relates to the assessment year 1978-79 and the second to the succeeding assessment year, the question formulated to be answered by us is :

(2.) THE question read as extracted above does not correctly convey the question arising on the facts of the case which we will set out hereinafter. THE question reformulated by us should read :

(3.) IN the light of the other citations or decisions relied upon by learned counsel for the assessee-firm as well as the Revenue, it would be useful to set out certain passages from the decision in Rai Bahadur Jairam Valji's case , as well as other cases. They are as follows (headnote) :