R J WOOD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Tribunal referred for decision the following questions: Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was owner of the property?

(2.) QUESTION No. 1 stands covered by a decision of the apex Court in the case of CIT vs. Podar Cement (P) Ltd. & Ors. (1997) 141 CTR (SC) 67 : (1997) 226 ITR 625 (SC) : TC 68R.253. Following the said decision, the question No. 1 referred to is answered in favour of the assessee and against the Revenue. In this view of the matter, it is not necessary to answer the second question.