1997 (9) TMI 58

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....---This is a reference under section 256(1) of the Income-tax Act, 1961. In pursuance of the order passed by this court on September 14, 1994, in M. C. C. No. 636 of 1985 whereby a reference has been called for by the High Court at the instance of the assessee and the following question of law has been referred by the Tribunal for opinion of this court : "Whether, on the facts and in the circum....

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....receiver was not refunded. The District Court went into all aspects of the question and held that the subsequent receiver was to pay the former receiver a sum of Rs. 97,818.19 after adjusting all the claims. The District Court directed this amount to be paid to the former receiver by the latter receiver with interest at the rate of 3 per cent. per annum from February 21, 1945, till the date of the....