COMMISSIONER OF INCOME TAX Vs. MODI RUBBER LIMITED

JUDGEMENT

(1.) AT the instance of the Revenue, the Income -tax Appellate Tribunal ('the Tribunal' for short) referred to this Court the following question stated to be question of law, for its opinion :

(2.) STATEMENT of case drawn up by the Tribunal is brief and we may reproduce the same :

(3.) WE may note the various decisions of the High Courts and the Supreme Court referred to above, and some more, on the question on which we have to give answer.