COMMISSIONER OF INCOME TAX Vs. ALLAHABAD BANK

JUDGEMENT

(1.) The following question of law is referred to this court by the Tribunal under Section 266(1) of the Income-tax Act, 1961 ("the Act") :

(2.) The assessment year involved is 1974-75 for which the relevant accounting period ended on December 31, 1973. The facts of this case appearing in the statement of the case are as follows :

(3.) The assessee is the Allahabad Bank, Calcutta, and the assessment year involved is 1974-75.