YEZDI HIRJI MALEGAM Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) At the instance of the applicant-assessee, the Income Tax Appellate Tribunal, Mumbai has forwarded the following questions of law for the opinion of this Court under Section 256(1) of the Income Tax Act, 1961.

(2.) The assessment years relevant herein are assessment years 1972-73 and 1976-77.

(3.) The original assessee Shri S.P. Patel (hereinafter referred to as 'the assessee') and his brother were partner in a firm known as M/s.Patel Brothers having 50% share each in the profit and loss of the firm.