COMMISSIONER OF INCOME TAX Vs. BALDEO CHOUDHARY VIJAY KUMAR

JUDGEMENT

(1.) A statement of the case has been submitted by the Income-tax Appellate Tribunal, "B" Bench, Patna, under Section 256(1) of the Income-tax Act and the following question has been referred to this court for opinion :

(2.) THE Tribunal has taken a view in favour of the assessee and against the Revenue. It is needless to go into the facts as a pure question of law is actually involved and is squarely covered by a Full Bench decision of this court in Jamunadas Mannalal v. CIT [1985] 152 ITR 261. More or less, the same question was involved in the case of Jamunadas Mannalal [1985] 152 ITR 261. By a majority, this court held this question against the assessee and in favour of the Revenue. It was held by the Full Bench as follows (p. 289):