LAWS(ALL)-1980-10-18

PRAKASH NARAIN Vs. COMMISSIONER OF INCOME TAX

Decided On October 24, 1980
PRAKASH NARAIN Appellant
V/S
COMMISSIONER OF INCOME-TAX AND WEALTH-TAX Respondents

JUDGEMENT

(1.) THE following income-tax and wealth-tax references shall stand disposed of by this judgment:

(2.) IN all the aforesaid income-tax references the common question of law, which has been referred to this court for opinion, is as follows:

(3.) THE facts, in brief, are these. THE assessee is an individual. He is an excise contractor and derives his income from excise contract and house property. He also acted as a toddy contractor. In regard to his income from the house property and from the liquor contract business, his previous year ended on March 31. However, for the toddy contract business for the assessment year 1965-66, his previous year was from October 1, 1963, to September 30, 1964.