LAWS(CAL)-1980-12-31

COMMISSIONER OF INCOME TAX Vs. SOUTHERN ESTATES P LTD

Decided On December 04, 1980
COMMISSIONER OF INCOME-TAX Appellant
V/S
SOUTHERN ESTATES (P.) LTD. Respondents

JUDGEMENT

(1.) In this matter, as the assessee did not appear, we requested Mr. Sumit Chakrabortti, learned advocate of this court, to appear as amicus curiae and help us in answering the question.

(2.) He has appeared and made his submission. We express our gratitude for the assistance rendered by him.

(3.) This reference under Section 256(1) of the I.T. Act, 1961, poses for our consideration the following question :