COMMISSIONER OF INCOME TAX Vs. SYNTHETIC STONES

JUDGEMENT

(1.) THE Tribunal, Jaipur Bench, Jaipur, for the asst. yr. 1982-83, at the instance of the Revenue, referred the following questions of law for the opinion of the High Court under S. 256(1) of the IT Act :

(2.) THE material facts, on the basis of which question No. (1) is to be decided are similar to the facts in D.B. IT Ref. No. 7 of 1990, CIT vs. Saboo Emery Stones [reported at (1996) 220 ITR 295 (Raj) : TC S13.1399] and the above-quoted question No. (1) is identical with the question which was for decision in D.B. IT Ref. No. 7 of 1990. For the same reasons given in CIT vs. Saboo Enery Stones's case (supra), this question is decided in favour of the Revenue and against the assessee and it is held that the cash assistance of Rs. 79,323 is liable to be taxed.

(3.) AS regards question No. 3, the identical question came up for consideration before us in CIT vs. Vishnu Oil & Dal Mills (D.B. IT Ref. No. 1 of 1991 decided on 13th Nov., 1995) [reported at (1996) 132 CTR (Raj) 132 : TC S25.2565] in which we have answered this question as under :