COMMISSIONER OF INCOME TAX Vs. AUTO SALES

JUDGEMENT

(1.) THESE are two references under Section 256 of the Income-tax Act, 1961, in respect of a common assessee and relating to the assessment years 1971-72 and 1974-75.

(2.) THE reference in I. T. R. No. 237 of 1982 arises out of the order dated November 30, 1980, passed by the Income-tax Appellate Tribunal in ITA No. 1603 (All) of 1979. THE following question stated to be of law and to arise out of the said order has been referred for the opinion of this court :

(3.) WE have heard Sri A. N. Mahajan, learned standing counsel for the Commissioner, and Sri P. K. Misra, advocate, holding brief from Sri Bharat Ji Agarwal, counsel for the assessee-respondent.