CIT Vs. SHRIKUMAR

JUDGEMENT

(1.) By way of this reference application filed under Section 256(2) of the Income Tax Act, 1961, the revenue has canvassed that he submitted a reference application under Section 256(1) of the Income Tax Act before Tribunal, Jaipur Bench, Jaipur requesting the Tribunal to refer the following questions of law for the opinion of the High Court:

(2.) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right:

(3.) Heard learned Counsel for the parties and carefully perused the relevant material on record.