HARNAM DASS MAHESHWAR Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) HEARD the learned counsel for the parties.

(2.) WHAT is the scope and ambit of S. 256 of the IT Act, 1961 ('the Act'), is the main question to be determined in this case, S. 256 provides :

(3.) G . Venkataswami Naidu and Co. vs. CIT AIR 1959 SC 359, the case of Sree Meenakshi Mills Ltd. (supra.) was referred to and it was held :