COMMISSIONER OF INCOME TAX Vs. GURUSWAMY K N

JUDGEMENT

(1.) THE following question of law has been referred to this Court under S. 256(1) of the IT Act, by the Tribunal, Bangalore Bench :

(2.) THE assessee is the owner of house property bearing No. 174, Subbarama Chetty Road, Bangalore. During the previous year relevant to the asst. yr. 1971-72 this property was used by the firm of M/s Guruswamy & Co. for its business, free of rent. THE assessee was one of the partners in the said firm.

(3.) AS a preliminary to the consideration of the point, it is necessary to analyse the relevant provisions of the IT Act, 1961, vis-a-vis the provisions of S. 22.