COMMISSIONER OF INCOME TAX Vs. INDIA SILK HOUSE

JUDGEMENT

(1.) AT the instance of the Revenue, the following question has been referred to this court for its opinion

(2.) THE assessee in this case is a registered firm consisting of four partners. For the previous year ended March 31, 1968, corresponding to the assessment year 1968-69, the ITO, in the course of the assessment, found the following debit balances : <FRM>JUDGEMENT_79_ITR152_1985Html1.htm</FRM>