COMMISSIONER OF INCOME TAX Vs. LATE RAM GUPTA

JUDGEMENT

(1.) The Tribunal, Allahabad, has referred the following question of law under Section 256(2) of the IT Act, 1961, hereinafter referred to as "the Act", for opinion to this Court :

(2.) The reference relates to asst. yr. 1985-86.

(3.) Briefly stated, the facts giving rise to the present reference are as follows :