PRINCESS USHA TRUST Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BY this reference under Section 256(1) of the I.T. Act, 1961, (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Indore Bench, has referred, the following questions of law to this court for its opinion :

(2.) THE material facts giving rise to this reference, briefly, are as follows :

(3.) HAVING given our anxious consideration to the contentions advanced on behalf of the parties, we now proceed to answer the question referred by the Tribunal to this court.