FRONTIER EGGS STORE Vs. COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) THE Tribunal has referred the following question of law for the opinion of this court:

(2.) TO appreciate the abovesaid question, the following few facts deserve notice : Messrs Frontier Eggs Store, Ambala Cantt. , came into existence as a result of a partnership deed dated November 2, 1965. This firm entered into a contract with the Army authorities for supplying of eggs. There was a breach of contract and the dispute arising out of this breach was, therefore, referred to an arbitrator, who found that a sum of Rs. 26,000 was to be paid to the assessee, vide his award dated June 17, 1971. His award was made rule of the court on January 30, 1973, and the amount of Rs. 26,000 was paid to the assessee-firm on October 9, 1973.

(3.) THE assessee-firm in the present form came to be reconstituted as a result of a partnership deed dated April 1, 1972.