( 1 ) THIS is a reference made by the Income-tax Appellate Tribunal, Delhi Bench a to this Court under Section 66 (1) of the Indian Income-tax Act, 1922 (hereinafter referred to as the Act ).

( 2 ) THE assessee, a Hindu undivided family of which the Karta is Seth Banarsi Dass Gupta, Meerut, filed two applications R. A. Nos. 945 and 946 of 1968-69, before the Appellate Tribunal, Delhi Bench a , under Section 66 (1) of the Act, arising Out of the Income-tax Appeals Nos. 1978 and 1979 of 1963-64, relating to the assessment years 1956-57 and 1957-58. Similarly, the Commissioner of Income-tax, Delhi (Central), New Delhi, filed two applications, R. A. Nos. 12 and 13 of 1968-69, arising out of the same Income-tax Appeals Nos. 1978 and 1979 of 1963-64, relating to the assessment years 1956-57 and 195 7-5 8 under Section 66 (1) of the Act.

( 3 ) BY a common order, dated 28th March, 1969. the Appellate Tribunal referred seven questions of law to this Court as arising out of the orders of the Tribunal, dated 2nd March, 1968 in the aforesaid Income-tax Appeals Nos. 1978 and 1979 of 1963-64. The said reference has been numbered in this Court as I. T. R. No. 68 of 1969. Wh