SETH DAUMAL NARSUMAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BY this reference under Section 256(1) of the I.T. Act, 1961, hereinafter referred to as "the Act", the Income-tax Appellate Tribunal, Indore Bench, has referred the following questions of law to this court for its opinion :

(2.) THE material facts giving rise to this reference, briefly, are as follows :