COMMISSIONER OF INCOME TAX Vs. AGARWALLA B L

JUDGEMENT

(1.) THE following two questions have been referred to this court for its opinion under Section 256(1) of the Income-tax Act, 1961 (hereinafter to be referred to as "the Act") :

(2.) THE facts leading to the present reference as they appear from the statement of the case are being stated hereinafter.

(3.) UNDER the circumstances. I answer both the questions in the affirmative, i.e., in favour of the assessee and against the Department. Since none has appeared on behalf of the assessee, there shall be no order as to costs. Let a copy of this judgment be transmitted to the Assistant Registrar of the Income-tax Appellate Tribunal 'B' Bench, Patna, in terms of Section 260 of the Act.