CIT Vs. SHADI LAL ENTERPRISES LTD

JUDGEMENT

(1.) The Income Tax Appellate Tribunal, New Delhi has referred the following question of law under section 256(1) of the Income Tax Act, 1961, hereinafter referred to as "the Act" for opinion to this Court:

(2.) The present Reference relates to the assessment year 1984-85.

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