NATHALAL JETHALAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) ON being moved under section 256(1) of the Income -tax Act, 1961, the Tribunal has referred the following question for our opinion :

(2.) IN order to answer the aforesaid question, a few relevant facts are stated herein :

(3.) SECTION 40A(3) of the Act, in so far as it is material, reads as under :