COMMISSIONER OF INCOME TAX Vs. SHAN ELAHI

JUDGEMENT

(1.) THIS is an Income Tax Reference under section 256(1) of the Income Tax Act, in which following question has been referred to us for our opinion :

(2.) SECTION 154(7) of the Income Tax Act as it stood in the relevant assessment year 1971 -72 states :

(3.) FOLLOWING the aforesaid decisions the question referred to us is answered in the negative, i.e., in favour of the department and against the assessee.