ASSAM FRONTIER VENEER AND SAW MILLS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference under S. 256(1) of the IT Act, 1961, at the instance of the assessee, on certain questions of law arising out of the Tribunal's order passed in I. T. As. Nos. 3238(Gau) of 1969 -70 and 3387 (Gau) of 1969 -70. The questions of law that have been referred are :

(2.) WE have to state briefly the facts leading to this reference in order to appreciate the context in which these two questions of law have arisen and been referred to us.

(3.) THE questions of law have been referred to us on the above premises.