NANDHI DHALL MILLS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This Tax Case (Appeal), filed by the assessee as against the order of the Income Tax Appellate Tribunal, was admitted by this Court on the following substantial questions of law:

(2.) It is submitted by the learned counsel appearing for the assessee that the assessee is not pressing the first substantial question of law admitted by this Court. He has also made an endorsement to that effect. Hence, it is not necessary to go into the first substantial question of law. Accordingly, we are deciding this appeal on the second and third substantial questions of law alone.

(3.) The brief facts of the case are as follows: