COMMISSIONER OF INCOME TAX Vs. ROMSONS JUNIOR INDIA

JUDGEMENT

(1.) THE Tribunal, Delhi, has referred following questions of law under s. 256(2) of the IT Act, 1961 (hereinafter referred to as 'the Act') for opinion to this Court :

(2.) THE reference relates to the asst. yrs. 1986 -87 and 1987 -88. While the first question is common to both the assessment years, the second question is confined to the asst. yr. 1986 -87 only.

(3.) WE have heard Shri A.N. Mahajan, learned standing counsel for the Revenue. Nobody has appeared on behalf of the respondent/assessee.