COMMISSIONER OF INCOME TAX Vs. CHIRATHALATTU ENTERPRISES

JUDGEMENT

(1.) AT the instance of the revenue, following questions have been referred to this Court, under section 256(1) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'), by the Tribunal, Cochin Bench:

(2.) FACTUAL position as highlighted in the Statement of Case is as follows

(3.) HEARD the learned counsel for the revenue. None appears for the assessee in spite of notice.