COMMISSIONER OF INCOME TAX Vs. NARBADA SHANKAR BHIKKABHAI

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has referred the following question of law arising out of its order, dated October 10, 1980, for the assessment year 1977-78 under Section 256(1) of the Income-tax Act, 1961 :

(2.) THE brief facts of the case are that the assessee is a partnership-firm consisting of the following five partners : <FRM>JUDGEMENT_277_ITR211_1995Html1.htm</FRM>

(3.) THE reference is answered in favour of the assessee and against the Department with no order as to costs.