M L NARANG Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) SINCE the questions referred in both references are identical, this common order will dispose of both of them.

(2.) AT the instance of the assessee, the following questions have been referred for the opinion of this Court by the Tribunal, Delhi Bench -D (in short "the Tribunal"), under S. 256(1) of the IT Act, 1961 (in short "the Act") :

(3.) THE statement of assets and liabilities as on 31st March, 1962, 31st March,1970, and 31st March, 1971, were directed to be submitted by the assessee, by the Income -tax Officer (in short "the ITO"), pursuant to notice under S. 142(1)(ii) of the Act dt. 9th Aug., 1971.