Sen, J. - (1.) This is an appeal against an order passed by the Division Bench of the Punjab and Haryana High Court disposing of an Income-tax reference relating to assessments of the assessment years 1963-64 to 1967-68.
(2.) The following questions of law had been referred to the High Court by the Income-tax Appellate Tribunal: "1. Whether on the facts and in the circumstances of the case, the Tribunal was right in law, in holding that Meera and Co. is a body of individuals and is assessable as such 2. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessment of the body of individuals identified as Meera and Co. should be made under S. 4 read with S. 2 (31) (v) and not under Ss. 160, 161 or 166 -
(3.) The High Court has given brief summary of the relevant facts as under:;