COMMISISONER OF INCOME TAX DELHI Vs. SUNIL LAMBA

JUDGEMENT

(1.) This appeal by the Revenue, under Section 260 A of the Income Tax Act, 1961 ("Act") is directed against an order dated 7th May, 2003 passed by the Income Tax Appellate Tribunal (ITAT) in the ITA No. 3006/Del/2000 for the Assessment Year (AY) 1995-96.

(2.) While admitting this appeal on 7th February, 2005 the following questions of law were framed by this Court:

(3.) The background facts are that Shri P.L. Lamba, the deceased father of the Respondent Assessee, along with Shri I.K. Ghai, commenced business in the name of "Kwality Restaurant and Ice Cream in Delhi in 1942. As the business grew, Shri Ghai and Shri Lamba promoted another firm Pure Ice Cream with effect from 1 st October, 1956 for manufacturing Ice Cream at Bombay and for marketing it under the name "Kwality".