COMMISSIONER OF INCOME TAX Vs. BHOLA RAM

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Jaipur Bench, has made the instant reference under Section 256(1) of the Income-tax Act, 1961, seeking opinion of the following question :

(2.) THE facts giving rise to the instant reference are that the respondent-asses-see is engaged in drilling work. He filed a return for the assessment year 1986-87 on February 1, 1988, declaring income of Rs. 40,980. THE case was selected for scrutiny and, therefore, notice under Section 143(2) was issued. A questionnaire was issued to the assessee. A notice was also given to produce the regular books of account, if maintained by the assessee. THE assessee was asked to furnish information on the following points :

(3.) IN view of the aforesaid the question referred by the INcome-tax Appellate Tribunal is answered in favour of the Revenue and against the assessee.