SHIV LAL TAK Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) HEARD learned counsel for the parties.

(2.) THIS reference has been made, at the instance of assessee, by the Appellate Tribunal, Jaipur Bench, Jaipur, for the opinion of this Court on the following questions of law, said to be arising out of appellate order dt. 18th Nov., 1984, in ITA No. 798/Jp/83 relating to asst. year 1978 79 :

(3.) BEFORE further examining contours of the controversy, it would be appropriate to reproduce relevant portion of S. 271 as they existed at the relevant time, covering asst. year 1978 79 :