ORIENTAL INSU. CO. LTD Vs. C.I.T.

JUDGEMENT

(1.) In these references, several common questions have been referred to this Court. The assessee's references are ITR 113/1998 and ITR 114/1998 pertaining to the assessment years 1980-81 and 1981-82, respectively. The department's references are ITR 115/1998, ITR 116/1998 and ITR 117/1998, which pertain to the assessment years 1980- 81 and 1981-82. In ITR 113/1998, which is the assessee's reference, the following questions have been referred to this Court for consideration:-

(2.) ITR 114/1998, which is also a reference of the assessee, raises the same three questions, though the amounts mentioned therein are different. The amounts in ITR 114/1998 are - Rs. 2,02,98,457/- and Rs. 9,50,00,000/- in question Nos. I and II, respectively. Insofar as question No. III is concerned, the amounts are - Rs. 1,07,76,524/- and Rs. 3,23,29,571/-.

(3.) Thus, it is seen that the questions in the two references on behalf of the assessee are identical except for the differences in the amounts.