NAUBATRAM NANDRAM Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference by the Income-tax Appellate Tribunal, Bombay Bench "A", under Section 66(1) of the Income-tax Act, 1922, at the instance of the applicant-assessee, Messrs. Naubatram Nandram of Bilaspur.

(2.) THE question referred to us for decision is :

(3.) THE assessee carried on various' businesses. One of them was exploiting forests and selling timber extracted therefrom.