COMMISSIONER OF INCOME TAX Vs. PANDA AND COMPANY

JUDGEMENT

(1.) AT the instance of the revenue on an application made under Section 256(2) of the Income-tax Act, 1961 (hereafter referred to as " the Act"), this court directed the Income-tax Appellate Tribunal, Cuttack Bench, to state a case and refer the following question for the opinion of the court :

(2.) IT may be pointed out that the Tribunal at the instance of the revenue on an application under Section 256(1) of the Act had referred a question also to this court for opinion, namely :