COMMISSIONER OF INCOMETAX Vs. SALONAH TEA CO LTD

JUDGEMENT

(1.) THE following question of law has been referred to this Court by the Tribunal under S. 256(1) of the IT Act, 1961 ('the Act') :

(2.) THE assessment year involved in this reference is the asst. yr. 1977-78, for which the relevant period of account is the period ending on 31st Dec., 1976.

(3.) SO , it is clear that this question was considered by the AAC and such, on this point there was a question of merger.