2000 (7) TMI 49

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... erences involve identical questions, our order will govern each one of them. On the basis of the applications filed by the Revenue under section 256(1) of the Income-tax Act, 1961 (for short "the Act"), the Income-tax Appellate Tribunal, Delhi Bench-B ("the Tribunal" in short), has referred the following question, pertaining to the assessment years 1970-71, 1971-72 and 1972-73, for the opinion o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the Act. It has not been disputed that the aforesaid decision of the Karnataka High Court has been affirmed by the apex court in Second ITO v. Stumpp, Schuele and Somappa P. Ltd. [1991] 187 ITR 108. In view of the decision of the apex court, the answer to the question referred is in the affirmative, i.e., in favour of the assessee and against the Revenue. The references are, accordingly, disp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X