At, Supreme Court of India
By, HON'BLE JUSTICE R. S. PATHAK (CJI) AND HON'BLE JUSTICE RANGANATH MISRA
Judgment Text
R. S. PATHAK. J.
We have heard learned counsel for the parties and we are satisfied that this appeal is concluded by the view taken by this court in Ganesh Dass Sreeram v. ITO [1988] 169 ITR 221. In accordance with that view, the appeal is allowed, the impugned judgment of the High Court is set aside and the two questions referred by the Income-tax Appellate Tribunal to the High Court are answered in the affirmative, in favour of the Revenue and
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against the assessee. There is no order as to costs.
