COMMISSIONER OF INCOME TAX Vs. METTUR BEARDSELL LIMITED

JUDGEMENT

(1.) BY order dated 19-4-1982, in T. C. P. No. 288 of 1981 this court directed the Tribunal to refer the followinguestions :

(2.) AS far as the firstuestion is concerned an identicaluestion was answered by this court in the case of CIT v. Simpson and Co., 1980 122 ITR 283, wherein this court has held that :