COMMISSIONER OF INCOME TAX Vs. JAI PRAKASH VAISH

JUDGEMENT

(1.) HEARD Sri A.N. Mahajan for the Department and Sri. P.K. Misdhra holding brief of Sri Bharatji Agarwal for the assessee. This is an IT reference under S. 256(1) of the Income-tax Act, 1961 (the Act). In which following questions have been referred to us for our opinion :

(2.) IF the answer to the question No. 1 is in the affirmative, whether the said income was taxable under the head 'Income from salary and/or the provisions of S. 89(1) of the IT Act, 1961 would be attracted in the present case ?"