JANATHA CONTRACT CO Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Cochin Bench, has stated a case and referred the following question to this court for its opinion :

(2.) THE assessment year was 1964-65 and the corresponding accounting period was that which ended on March 31, 1964.

(3.) CLAUSE 9 of the contract which has been adverted to and which was extracted in the statement of the case was in these terms: