COMMISSIONER OF INCOME TAX Vs. AYURVED SEVASHRAM LTD

JUDGEMENT

(1.) THIS is a reference under s. 256(1) of the IT Act, 1961 to answer the following questions of law, namely :

(2.) THE relevant assessment years are3 1971-72, 1972-73 and 1973-74. In respect of the same assessee and on the same facts for two earlier assessment years, namely, 1969-70, and 1970-71, the same questions were referred for decision of this Court in IT Ref. No. 12/ 1979 (CIT vs. Ayurvedic Sevashram (P) Ltd. 1986 54 CTR (Raj) 119). This Court, by its order dt. 24th July, 1985 passed therein, answered the first question in favour of the assessee and held that it was not necessary to decide the second question in view of the answer to the first question.