COMMISSIONER OF INCOME TAX Vs. AMBUJAM BUS TRANSPORTS

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Cochin Bench, has referred the following questions for the decision of this court under Section 256(1) of the Income-tax Act:

(2.) THE answer to these questions is covered by our decision in ITR No. 315 of 1980 (CIT v. St. George Motors [1986] 161 ITR 444 (Ker)) and should, therefore, be answered in favour of the Revenue.