SOBHAG MAL LODHA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IN compliance with an order made by this court under section 66(2) of the INcome-tax Act, a statement of the case has been submitted by the INcome-tax Appellate Tribunal to this court referring the following four questions for our opinion :

(2.) THIS reference relates to the assessment year 1944-45.

(3.) IN these circumstances, the first question is answered in the affirmative and against the assessee.