CIT Vs. P.S. JAIN AND CO.

JUDGEMENT

(1.) THIS is a reference under Section 256(2) of the Income Tax Act, 1961. Heard Mr. Sanjeev Sabharwal, learned counsel for appellant and Mr. B.N. Goswami, learned counsel for respondent.

(2.) IT is fairly stated by Mr. Sanjeev Sabharwal, learned counsel for appellant that the tax impact would be Rs. 1,80,000/ -.

(3.) KEEPING in view the aforesaid principle, we are not inclined to answer the present reference and accordingly the same is dismissed.