SHANTI BHUSHAN Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This is a reference made to this court under Section 256(2) of the Income Tax Act, 1961 (hereinafter referred to as I.T. Act') against the judgment dated 19.05.1994 passed by the Income Tax Appellate Tribunal (hereinafter referred to as Tribunal'). Accordingly, a statement of case was drawn up and the following question of law was referred, pursuant to order dated 08.09.1994 passed by this court :-

(2.) As is apparent from the questions of law extracted hereinabove by us, the issue raised in the captioned reference is both ingenious and novel. The question raised is the product of experience, deftness and obvious artfulness of the petitioner who is a seasoned, experienced and an eminent Advocate of the country.

(3.) What is at the heart of the matter, as a matter of fact, is the heart itself. When one speaks of heart it brings forth imagery of myriad emotions. Emotions which encompass, often varied passions, of soulful love, abominable deceit, unremitting treachery and revenge. No two individuals deal with matters of heart similarly; often confounded, as to how to deal with it which is why a famous lyricists expounds on this very peculiar quandary thus: DIL-E-NADAN TUJHE HUA KYA HAI AKHIR ESS DARD KE DAWA KYA HAI. (Here heart is personified. It is asked of it what ails it' What is the remedy for the malady).