COMMISSIONER OF INCOME TAX Vs. KEDRAJ AGRICULTURAL INDUSTRIES

JUDGEMENT

(1.) At the instance of the revenue the following two questions of law have been referred to this Court for its opinion by the Income Tax Appellate Tribunal, Ahmedabad Bench "B" under the provisions of Section 256(1) of the Income Tax Act, 1961 (hereinafter referred to as "the Act").

(2.) We have heard learned Counsel Mr. Naik appearing for the Revenue. None has appeared for the Assessee.

(3.) The facts giving rise to the question pertaining to the present case are as under:-