COMMISSIONER OF INCOME TAX Vs. RAMA BODY BUILDERS

JUDGEMENT

(1.) AT the instance of the Revenue, the following question has been referred for the opinion of this court, by the Income -tax Appellate Tribunal, Delhi Bench -D ('the Tribunal' in short), under Section 256(1) of the Income -tax Act, 1961 (in short 'the Act') :

(2.) AS the controversy lies in a narrow compass, the factual position needs to be noted in brief :

(3.) IN order to appreciate this stand of the Revenue it is necessary to take note of the provisions contained in Section 249(4) of the Act as it stood at the relevant point of time :