COMMISSIONER OF INCOME TAX Vs. OM AGENCIES

JUDGEMENT

(1.) ON being moved by an application under Section 256(1) of the Income-tax Act, 1961 (in short, "the Act"), by the Commissioner of Income-tax, Orissa, the Income-tax Appellate Tribunal, Cuttack Bench, Cuttack (in short, "the Tribunal") has referred the following questions for the opinion of this court :

(2.) THE background facts as culled out from the statement of case are as follows :