COMMISSIONER OF INCOME TAX Vs. R DALMIA

JUDGEMENT

(1.) THE questions, subject-matter of IT Reference Nos. 204 to 207 of 1976 were answered by a Division Bench decision of this Court by oral judgment dt. 20th Feb., 1991 dictated in the Court. In these applications we are only concerned with the answer of question No. 4 which was the subject matter of the said decision. THE question No. 4 reads as under :--

(2.) IN view of the concession made by the counsel for the assessee the aforesaid question was answered in favour of the Department. The relevant portion of the judgment reads as under:--