The first set of questions relate to the assessees quantum appeals the other set relate to the companysequential penalty proceedings.
3,78,329/ was the assessees income during the relevant year ending on 31 10 1960?
3,78,329/ was the income of the assessee liable to tax as such?
41,039.67/ made to Surjit Singh, Sham Singh and Rajinder Singh was the assessees income and was rightly taxed as such in its hands?
Both sets of questions relate to Assessment Year 1962 63.
P. Bharucha, J. These appeals by the Revenue arise upon the judgment dated 29 5 1985 of the Delhi High Court answering two sets of references made to it under Section 256 2 of the Income Tax Act, 1961 against the Revenue.
