LAWS(RAJ)-1985-4-66

DEVI CHAND BASTIMAL Vs. C I T JAIPUR

Decided On April 24, 1985
DEVI CHAND BASTIMAL Appellant
V/S
C I T JAIPUR Respondents

JUDGEMENT

(1.) BOTH these references were heard together and it will be convenient to dispose them of by a common order, for, the arguments in both the references are identical.

(2.) WE may first notice the facts leading to REFERENCES NO 9 OF 1977:

(3.) HAVING considered the contentions of the learned counsel for the Revenue as well as that of assessees in respect of Explanation-2 of s. 37 (2a), we are of opinion that the questions referred by the Tribunal should be answered having regard to s. 37 (2b) as it existed during the assessment years 1972-73. 1973-74 and 1974-75.