INDUSTRIAL LINNINGS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) AT the instance of the applicant-assessee, the following question has been referred to this Court under the provisions of S. 256(1) of the IT Act, 1961 (hereinafter referred to as the "Act") :

(2.) LEARNED advocate Shri B.D. Karia has appeared for the applicant-assessee whereas learned senior Central Government standing counsel Shri M.R. Bhatt has appeared for the Revenue.

(3.) THEREUPON , the assessee filed an appeal before the Tribunal but the Tribunal also upheld the view expressed by the ITO as well by the CIT(A).