COMMISSIONER OF INCOME TAX Vs. JASWANT MOTORS

JUDGEMENT

(1.) CIT has filed this petition under S. 256(2) of the IT Act, 1961 (hereinafter referred to as the Act) for issuance of a mandamus directing the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar, (hereinafter referred to as the Tribunal) to refer the following questions of law along with the statement of the case to this Court for its opinion:

(2.) RESPONDENT -assessee (hereinafter referred to as the assessee) is a registered firm deriving its income from purchase and sale of auto vehicles. It took on rent premises No. 40 G.T. Road, Jalandhar on a monthly rent of Rs. 12,500 from Sarvshri Sadhu Singh, Kashmir Singh, Balwant Singh and Balbir Singh. The premises were given on rent on behalf of these persons by one Jagdish Kaur Gill acting as their general power of attorney. Landowners were shown to be the residents of United Kingdom in the rent note.

(3.) AFTER hearing the counsel for the parties, we are satisfied that the following two questions of law do arise from the appellate order of Tribunal: