- (1.) We have heard learned counsel for the parties and we are satisfied that this appeal is concluded by the view taken by this court in Ganesh Dass Sreeram V/s. ITO [1988] 169 ITR 221. In accordance with that view, the appeal is allowed, the impugned Judgement of the High court is set aside and the two questions referred by the Income-tax Appellate tribunal to the High court are answered in the affirmative, in favour of the Revenue and against the assessee. There is no order as to costs.;