JUDGMENT

Arijit Pasayat, J.—Leave granted.

2. These appeals by the assessee are directed against the judg­ment rendered by a Division Bench of the Karnataka High Court in appeals purported to be under Section 260A of the Income Tax Act, 1961 (in short the ‘Act’). The appeals were filed by the revenue questioning correctness of certain conclusions arrived at by the Income-Tax Appellate Tribunal, Bangalore Bench (in short the ‘Tribunal’) in appeals filed by the assessee as well as the revenue.

3. The dispute relates to the assessment year 1995-96. The rele­vant factual details have been noted in Civil Appeal No. 4232 of 2003 and other cases (M. Janardhan Rao v. Joint Commissioner of Income Tax etc. etc.) disposed of today, and are not repeated here. The assessee was described as A.O.P. 3 by the revenue authorities in the concerned assessment proceedings.

4. Questioning correctness of certain conclusions by the Tribun­al, revenue had preferred appeals before the High Court. The High Court has held that the Tribunal’s views in respect of Question Nos. (iii), (v) and (vii) as formulated were not in order, and accordingly allowed the appeals filed by the revenue in part. The basic issues whi