COMMISSIONER OF INCOME TAX Vs. CYNAMIDE INDIA LIMITED

JUDGEMENT

(1.) In a reference under Section 256 of the Income-tax Act, 1961, the following three questions amongst others were answered by the High Court in favour of the assessee and against the Revenue :-

(2.) There were in all eight questions forming subject-matter of reference before the High Court and as to which the Revenue had filed these appeals However, vide order dated 3-11-1995, this Court has entertained the appeals confined to abovesaid three questions only.

(3.) So far as question numbers 6 and 8 are concerned, at the very outset the learned counsel for the Revenue has very fairly stated that the quantum of revenue involved is very small and therefore the Revenue does not press the appeals to that extent. He has made his submissions confined to question No. 4 only.