COMMISSIONER OF SURTAX Vs. ORISSA CEMENT LTD

JUDGEMENT

(1.) ARIJIT PASAYAT, C.J. : 1. Heard. Following question has been referred for opinion of this Court at the instance of the Revenue under s. 256(1) of the IT Act, 1961 (in short 'the Act'), by the Income-tax Appellate Tribunal, Delhi Bench 'B' (for short the 'Tribunal') :

(2.) WE need not deal with the factual aspects in detail in view of the fact that in the assessee's own case in IT Ref. No. 329 of 1979, decided on 6th Sept., 2000, a similar question was considered in the background of decision of the apex Court in Second ITO vs. Stumpp Schuele & Somappa (P) Ltd. (1990) 94 CTR (SC) 160 : (1991) 187 ITR 108 (SC). The question, therefore, is answered in the affirmative, in favour of the assessee and against the Revenue. The reference application is disposed of.