COMMISSIONER OF INCOME TAX Vs. RAMACHANDER BANARSIDAS

JUDGEMENT

(1.) THIS reference is made under s. 256 (1) of the IT Act, 1961 (hereinafter referred to as `the Act') at the instance of the Revenue to answer the following question of law, namely :

(2.) CONSEQUENTLY, the reference is answered against the Revenue and in favour of the assessee by holding that the view taken by the Tribunal is justified. No costs.