COMMISSIONER OF INCOME TAX Vs. SURYA INDUSTRIES LTD.

JUDGEMENT

(1.) THE following question of law has been referred for our opinion under s. 256(1) of the IT Act, 1961 :

(2.) THE admitted position is that in view of the decision of the Supreme Court in CIT vs. Shaan Finance (P) Ltd. (1998) 146 CTR (SC) 110 : (1998) 231 ITR 308 (SC), the question of law is required to be answered in the affirmative in favour of the assessee and against the Revenue.

(3.) THE reference is disposed of accordingly.