COMMISSIONER OF INCOME TAX Vs. DURGA PRASAD

JUDGEMENT

(1.) THESE applications have been filed under s. 256(2) of the IT Act, 1961 to call for the following question of law arising out of the order of the Tribunal.

(2.) THE learned counsel for the petitioner have been heard and it is found that the issue which involved is covered by the decision of the apex Court in CIT vs. P.J. Chemicals Ltd. (1994) 121 CTR (SC) 201 : (1994) 210 ITR 830 (SC). THE question which was raised by the CIT is as under :