COMMISSIONER OF INCOME TAX Vs. JANANAMANDAL LIMITED

JUDGEMENT

(1.) THE following questions were referred under Section 256(1) of the Income-tax Act, 1961 :

(2.) IT is brought to our notice that, in the case of this very assessee, these very same questions have been answered in its favour by a Bench of this court in CIT v. Jananamandal Ltd. [1989] 180 ITR 420. The said decision related to an earlier assessment year, viz., 1973-74, whereas the present reference pertains to 1974-75. For the reasons given in the said judgment, questions Nos. (i), (ii) and (iii) are answered in the affirmative, i.e., in favour of the assessee and against the Revenue and questions Nos. (iv) and (v) are returned unanswered.