DURGA METAL WORKS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) UNDER Section 256(1) of the Income-tax Act, 1961, the following question is referred :

(2.) IT is agreed by counsel for both the parties that, following the decision of the Supreme Court in Lohia Machines Ltd. v. Union of India [ 1985] 152 ITR 308, this question must be answered in the negative (sic.), i.e., in favour of the Revenue and against the assessee.