BIRAJ MOHAN BISWAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) SINCE both the reference applications are interlinked, they are disposed of by this common judgment.

(2.) AT the instance of Shri Biraj Mohan Biswal (hereinafter referred to as " the assessee"), the following questions have been referred to this court under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as " the Act"), by the Income-tax Appellate Tribunal, Cuttack Bench (hereinafter referred to as " the Tribunal").