1992 (11) TMI 87

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....976, in Income-tax Reference No. 152 of 1975 ( CIT v. Forbes Forbes 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 as....