COMMISSIONER OF INCOME TAX Vs. RAMJI DAS NARANGA

JUDGEMENT

(1.) AT the instance of the Revenue, the following question has been referred to this court by the Income-tax Appellate Tribunal, Cuttack Bench, Cuttack ( hereinafter referred to as "the Tribunal" ), under Section 256(1) of the Income-tax Act, 1961 (in short, "the Act") :

(2.) THE facts as are relevant for the purpose of determination of the question are as follows.