LAWS(CAL)-1991-3-56

UNIVERSAL ELECTRICS LTD Vs. COMMISSIONER OF INCOME TAX

Decided On March 25, 1991
COMMISSIONER OF INCOME-TAX Appellant
V/S
COMMISSIONER OF INCOME-TAX Respondents

JUDGEMENT

(1.) These four references -- two at the instance of the Commissioner and two at the instance of the assessee -- relating to the assessment years 1975-76, 1976-77, 1977-78 and 1978-79, are heard together as common issues are involved.

(2.) Income-tax Reference No. 359 of 1982, under Section 256(1) of the Income-tax Act, 1961, and Income-tax Reference No. 42 of 1990 under Section 256(2) of the Act, both at the instance of the assessee, relate to the assessment year 1975-76.

(3.) Income-tax Reference No. 73 of 1985, at the instance of the Revenue is for the assessment year 1976-77 and Income-tax Reference No. 38 of 1987, is also at the instance of the Revenue and is for the assessment years 1977-78 and 1978-79.