DELHI VILLAGERS DEVELOPMET Vs. GOVERNMENT OF INDIA

JUDGEMENT

(1.) In this reference relevant for the assessment year 1980-81, the following three questions of law have been referred under Section 256(1) of the Income Tax Act, 1961 ['Act'], by the Income Tax Appellate Tribunal ['Tribunal'] for our opinion: -

(2.) In so far as the first and second question are concerned, learned counsel for the Assessee does not press these questions and accordingly the reference is returned unanswered in respect of these two questions.

(3.) In so far as the third question is concerned, we find from a reading of the paper book that the Assessee had written back in its accounts unclaimed balances under the following heads - (a) cheques issued in regard to wages lying unclaimed - Rs.16,313/- (b) Sundry credit balance - Rs.99,927/- Total Rs.1,16,240/-