CIT Vs. P.D. SINGHANIA

JUDGEMENT

(1.) THE Income Tax Appellate Tribunal, Allahabad, has referred the following question of law under section 256(1) of Income Tax Act, 1961, (hereinafter referred to as 'the Act') for opinion to this Court : 'Whether, on the facts and in the circumstances of the case, the assessee is entitled to exemption under section 10(13A) of the Income Tax Act, 1961?'

(2.) THE present reference relates to the assessment years 1978 -79 and 1979 -80.

(3.) THE assessee appealed to the Commissioner (Appeals). The Commissioner (Appeals) accepted the claim of the assessee and held that to the extent of Rs. 4,800 the assessee was entitled to exemption as laid down under section 10(13A) of the Act.