COMMISSIONER OF INCOME TAX Vs. OFFICIAL LIQUIDATOR AHMEDABAD MANUFACTURING AND CALICO PRINTING COMPANY LIMITED

JUDGEMENT

(1.) HEARD Mr. M.R. Bhatt for the assessee as well as Ms. Hansa Punani for the Official Liquidator who now represents the respondent company now in liquidation. The Tribunal, Ahmedabad Bench 'C', Ahmedabad has raised 6 questions arising out of its appellate order in ITA No. 2466/Ahd/1977 78, dt. 12th April, 1982, for the asst. yr. 1973 74. Question No. 1 has been referred to us on an application under s. 256(1) made by the CIT and the remaining 5 questions have been referred to us on the application of the assessee :

(2.) THE following question has been referred to us at the instance of the Revenue :

(3.) QUESTION No. 3 reads as under :