COMMISSIONER OF INCOME TAX Vs. AARKAY SAREE MUSEUM

JUDGEMENT

(1.) THIS is a reference under S. 256 (2) of the IT Act, 1961, made at the instance of the Revenue pursuant to the order of this Court in IT Reference No. 18 of 1968 dated January 13, 1971. The question referred to us reads as under :

(2.) THE relevant assessment year is 1959 60. The facts leading to the making of this reference are as under :

(3.) ON April 1, 1962, the IT Act, 1961, came into force. S. 297(1) of the said Act provided that the Indian IT Act, 1922, was thereby repealed.