COMMISSIONER OF INCOME TAX Vs. ORISSA CEMENT LIMITED

JUDGEMENT

(1.) ACCEPTING the prayer made in terms of S. 256(1) of the IT Act, 1961 (for short "the Act"), the following question has been referred by the Income tax Appellate Tribunal, Delhi Bench "D" (in short "the Tribunal"), for the opinion of this Court :

(2.) THE dispute relates to the asst. year 1976 77, We find that the Tribunal relied on the decision of this Court in National Agricultural Cooperative Marketing Federation of India Ltd. vs. Union of India (1981) 130 ITR 928 (Del) to grant relief to the assessee in terms of S. 214 of the Act. The issue involved appears to have been considered by the apex Court in Modi Industries Ltd. vs. CIT (1995) 128 CTR (SC) 361 : (1995) 216 ITR 759 (SC) : TC S4.369.