COMMISSIONER OF INCOME TAX Vs. PREMIER MILLS LIMITED

JUDGEMENT

(1.) THIS is a petition filed by the Revenue under section 256(2) of the Income-tax Act, 1961, seeking a direction to the Tribunal to state the case and refer the following question of law for the decision of this court :

(2.) THOUGH the above question is covered by the decision in Srinivas Industries v. CIT [1991] 188 ITR 22 (Mad), the Supreme Court has granted special leave to the assessee against the decision of the Punjab and Haryana High Court on an identical question, which decision is in CIT v. Janak Steel Tubes (Pvt.) Ltd. [1989] 179 ITR 536. Similarly, in a special leave petition filed by the Department against the judgment of the Andhra Pradesh High Court in CIT v. Godavari Plywoods Ltd. [1987] 168 ITR 632 involving an identical question of law, the Supreme Court has granted special leave to the Department to appeal against that said decision by order dated April 22, 1991, in S.L.P. (Civil) Nos. 1238 and 1239 of 1989 and 5571 of 1991 (see [1991] 189 ITR (St.) 119). Under these circumstances, we are inclined to hold that a referable question of law does arise out of the order of the Tribunal. Therefore, the Tribunal is directed to state the case referring the aforesaid question of law for the decision of this court. No costs.