COMMISSIONER OF INCOME TAX Vs. MAHADEVIA BROTHERS

JUDGEMENT

(1.) By this reference under section 256(1) of the Income Tax Act 1961, the Income Tax Appellate Tribunal has referred the following question of law to this court for opinion at the instance of revenue:-

(2.) The controversy in the above question is squarely covered by the decision of this Court in the case ofC.I.T. v/s Lallubhai Nagar and Sons,1993 204 ITR 93. Following the same, the question is answered in the negative and in favour of the revenue.

(3.) Reference is disposed of accordingly. There shall be no order as to costs.