(1.) The Income Tax Appellate Tribunal, Mumbai has at the instance of the assessee, referred to this Court the following questions arising out of the order of the Tribunal dated 27th September 1991 in Income Tax Appeal Nos.3301 and 3302/Bom/87 for the Assessment Years 1966-67 and 1967-68.
(2.) The facts giving rise to the assessment order for assessment year 1966-67 are as under:
(3.) Assessment Year 1967-68.