1992 (11) TMI 87

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..... Campbell and Co. Ltd. [1977] 107 ITR 38 ) which related to the assessment years 1964-65, 1965-66 and 1966-67. The following two questions were referred to the High Court ( at page 39 ) : " (1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the sums of Rs. 98,730 for the assessment year 1964-65, Rs. 1,10,000 for the assessment year 1965-66 .....

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..... o. 2 in favour of the Revenue. The appeals relate to question No. 1. Learned counsel for the respondent concedes that the matter is now covered by the decision of this court in Vazir Sultan Tobacco Co. Ltd. v. CIT [1981] 132 ITR 559. In view of the said decision, question No. 1 must also be answered in the negative. The appeals are, therefore, allowed and the order of the High Court is set aside, .....

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