M.H. Daryani vs Commissioner Of Income-Tax on 5 February, 1993
2. So far as the first question is concerned, counsel for the parties are agreed that following the ratio of the decision of this court in M. H. Daryani v. CIT [1993] 202 ITR 731, it may be answered in favour of the Revenue. In view of the above statement and following the ratio of the above decision, we answer the first question referred to us in the negative, i.e., in favour of the Revenue and against the assessee.