R JAYACHANDRAN Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE reference is at the instance of the assessee who has not appeared before us in person or through counsel. No arguments have been addressed in support of the reference.

(2.) THE question referred is as to whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was not entitled to deduction under Section 32AB on the ground that he was not doing the eligible business or carrying on profession but the firm was carrying on the eligible business and hence was allowed deduction under Section 32AB.

(3.) THE question is answered in favour of the Revenue and against the assessee.