COMMISSIONER OF INCOME TAX Vs. MILEX CABLE INDUSTRIES

JUDGEMENT

(1.) AT the instance of the Revenue, the following question of law has been referred to this Court for its opinion by the Tribunal, Ahmedabad Bench 'A', under the provisions of Section 256(1) of the IT Act, 1961 (hereinafter referred to as 'the Act') :

(2.) WE have heard learned standing counsel Shri Tanvish Bhatt for the central Government appearing for the applicant and learned advocate Shri. K.H. Kaji appearing for the respondent -assessee.

(3.) THE respondent -assessee is a partnership -firm. It filed its returns for the asst. yrs. 1979 -80 and 1980 -81, the previous years being S. Yrs. 2034 and 2035, respectively.