COMMISSIONER OF INCOME TAX Vs. MONIKA INDIA

JUDGEMENT

(1.) This Appeal under Section 260 -A of the Income Tax Act, 1961 (the Act), challenges the order dated 13 th December, 2007 passed by the Income Tax Appellate Tribunal (the Tribunal)for the Assessment Year 1986 -87.

(2.) This appeal was admitted on 12th January, 2009 on the following substantial question of law: -

(3.) We have on 1st April, 2016 heard both - Income Tax Reference bearing No.320 of 1998 and the present appeal. The question of law posed for our opinion in the Income Tax Reference No. 320 of 1998 reads as under: -