BANARAS STATE BANK Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BY this application, the assessee is asking the following four questions to be referred under Section 256(2) of the Income-tax Act, 1961:

(2.) LEARNED counsel for the petitioner, Sri Upadhyaya, stated fairly that so far as questions Nos. 2, 3 and 4 are concerned, they are concluded against the assessee by the decision of the Supreme Court in State Bank of Travancore v. CIT [1986] 158 ITR 102.

(3.) THE income-tax application is, accordingly, allowed in part.