- (1.) Although we have issued rule on all three questions sought to be got referred to us, yet on hearing both sides on the returnable date and thereafter we are of the final and firm opinion that the rule should be discharged.
(2.) Since we are discharging the rule, some reasons and background are necessary.
(3.) The assessee was, on an admitted basis, liable to be taxed in accordance with the provisions of Section 44BB of the Income-tax Act, 1961.;