HANSALAYA PROPERTIES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS petition really relates to the asst. yrs. 1972-73 and 1974-75 to 1977-78. Counsel for the petitioner, however, states that separate application will be filed for the asst. yrs. 1974-75 to 1977-78 and that this application may be restricted to the asst. yr. 1972-73. We proceed on this basis. He will be at liberty to file separate applications for the asst. yrs. 1974-75 to 1977-78, if so advised.

(2.) AFTER hearing counsel, we are of opinion that two questions of law arise out of the order of the Tribunal which call for reference to this Court. They are :