COMMISSIONER OF INCOME TAX Vs. KAREEM CASCAMI LIMITED

JUDGEMENT

(1.) THE following three questions are referred under section 256(1) of the Income-tax Act, 1961 for our consideration. THE questions pertain to the assessment year 1982-83.

(2.) THE second question is covered by the decision of this court reported in CIT v. Bangalore Turf Club Ltd. [1984] 150 ITR 23. Following the said decision, the second question in answered in the affirmative and against the Revenue.

(3.) REFERENCE answered accordingly.