KANTILAL P SHAH Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE following two questions are referred to this Court by the Tribunal under s. 256(1) of the IT Act, 1961 :

(2.) THE point which arises for consideration as a result of these questions is covered by the decision of the Supreme Court in H.H. Sri Rama Verma vs. CIT (1991) 99 CTR (SC) 26 : (1991) 187 ITR 308 (SC). In that case it is held :