COMMISSIONER OF INCOME TAX Vs. PUNJAB TYRES

JUDGEMENT

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

(2.) THE material facts giving rise to this reference, as set out in the statement of the case, briefly, are as follows: