COMMISSIONER OF INCOME TAX Vs. MADRAS FERTILIZERS LIMITED

JUDGEMENT

(1.) PURSUANT to the directions of this court in Tax Case Petition No. 177 of 1987, dated February 20, 1989, the Appellate Tribunal has referred the following question of law for our consideration :

(2.) THE point that arises for consideration in this tax case is whether the value of the goods in transit is liable to be included while working out the relief for the purposes of section 80j of the Income-tax Act, 1961.