COMMISSIONER OF INCOME TAX Vs. DADABAI N J

JUDGEMENT

(1.) THIS income-tax case is filed under Section 256(2) of the Income-tax Act, 1961, to direct the Income-tax Appellate Tribunal to state a case and refer to the opinion of the High Court two questions of law :

(2.) IT may be straightaway mentioned here that it is only the first of these two questions that was the subject-matter of reference before the Tribunal under Section 256(1) of the Income-tax Act, the refusal of which has given rise to the above petition. The second question was not agitated before the Tribunal and in fact it arises out of the order refusing to refer the first question.

(3.) CONSEQUENT on the dismissal of the miscellaneous petition by the Tribunal, by its order dated Febuary 26, 1975, the revenue filed an application to refer the following question of law arising out of its order dated February 26, 1975, for opinion of the High Court :