KISHAN LAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The Tribunal, New Delhi, has referred the following questions of law under Section 256(2) of the IT Act, 1961, hereinafter referred to as the Act, in respect of RA Nos. 445 to 454/Del/1985 and RA No. 1251/Del/1985 for opinion to this Court:

(2.) The reference relates to the asst. yrs. 1970-71 to 1979-80.

(3.) We have heard Sri Vikram Gulati, learned Counsel for the applicant/assessee and Sri A.N. Mahajan, learned standing counsel for the Revenue.