COMMISSIONER OF INCOME TAX Vs. VEERARAGHAVULU V

JUDGEMENT

(1.) THE following three questions are referred for consideration of this Court at the instance of the CIT, Visakhapatnam :

(2.) IN the statement of facts drawn up by the Tribunal, it was observed that the point arising for consideration in this case was covered by a decision of this Court in the case of CIT vs. Sanka Sankaraiah 1978 CTR (AP) 24 : (1978) 113 ITR 313. For that reason, the Departmental appeal was dismissed. The application filed under S. 256(1) of the Act by the CIT was accepted on the ground that in a Punjab and Haryana High Court case, where the decision of this Court in Sanka Sankaraiah (1978) 113 ITR 313 was followed, the Supreme Court had granted special leave to the Department. In the first place, there was no indication that the decision of this Court in Sanka Sankaraiah (1978) 113 ITR 313 was challenged in the Supreme Court by the CIT.

(3.) AS far as the present case is concerned, the questions referred for consideration, being covered by the decision of this Court in Sanka Sankaraiah (1978) 113 ITR 313, the questions are answered in favour of the assessee and against the Revenue. No costs.