COMMISSIONER OF INCOME TAX Vs. RAJENDRA TEXTILES

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, for the assessment years 1985-86, 1986-87, at the instance of the Revenue, has referred the following question of law for the opinion of the High Court under Section 256(1) of the Act :

(2.) THE identical question came up for consideration before the Division Bench of this court in D.B. Income-tax Reference No. 1 of 1991, CIT v. Vishnu Oil and Dal Mills [1996] 218 ITR 71, and the Division Bench of this court answered the question as follows (at page 74) :