COMMISSIONER OF INCOME TAX Vs. TULSIDAS KILACH

JUDGEMENT

(1.) THERE are two questions in this reference under s. 256(1) of the IT Act., 1961, made at the instance of the assessee. The first question reads thus :

(2.) COUNSEL are agreed that it is covered by the decision of this Court in I.T.R. No. 203 of 1970. R. Kilachand, Bombay vs. CIT delivered on 12th Feb., 1979 by Chandurakar and Desai, JJ. Following that judgment, the 1st question is answered in the affirmative and in favour of the assessee.