CIT Vs. FERTILIZER AGENCIES

JUDGEMENT

(1.) This is a reference under section 256(1) of the Income Tax Act, in which the following question has been referred to us for our opinion :

(2.) The question referred is covered by the decision of this court in CIT v. Govind Prasad Prabhu Nath, 1988 171 ITR 417.

(3.) Following the decision, the question referred is answered in the affirmative, i.e., in favour of the assessee and against the department.