COMMISSIONER OF INCOME TAX Vs. ST XAVIERS

JUDGEMENT

(1.) AS directed by this court under Section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Patna Bench, Patna, has referred the following question of law to this court for its opinion :

(2.) THE material facts giving rise to this reference briefly are as follows :

(3.) FOR all these reasons, my answer to the question referred to this court by the Tribunal is in the affirmative and against the Revenue. In the circumstances of the case, parties shall bear their own costs of the reference.