RASOOLJI BUXJI Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS order shall dispose of all the above nine references which relate to the same assessee. In References Nos. 2 of 1980 to 9 of 1980 made by the Tribunal under Sub-section (1) of Section 256 of the Income-tax Act, 1961 a set of common questions of law arising out of the Tribunal's common order relating to assessment years 1955-56 to 1961-62 and 1964-65 have been referred on the basis of a common statement of case drawn up by the Tribunal. I.T. Reference No. 38 of 1986 is also,in respect of the same assessee and relates to the very same assessment years but is a result of direction of this Court under Sub-section (2) of Section 256 of the Act to refer a common question of law said to arise out of the same order of the Tribunal which is treated as not covered by the questions already referred by the Tribunal under Section 256(1) of the Act. THIS question also had to be answered on the same facts.

(2.) THE common question of law in I.T. References Nos. 2OF 1980 to 9OF 1980 referred by the Tribunal at the instance of the assessee under Section 256(1) of the Act for all these assessment years are the following, namely: