CIT Vs. CEEKAY ASSOCIATES (P) LTD

JUDGEMENT

(1.) THE Income Tax Appellate Tribunal, Delhi has referred the following question of law under section 256(2) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') for opinion to this Court. 'Whether, on facts and in the circumstances of the case, the Tribunal was in law, justified in holding that the assessee was an industrial undertaking?'

(2.) THE reference relates to the assessment year 1985 -86.

(3.) HEARD Sri A.N. Mahajan, learned Standing counsel for the revenue. Sri P.K. Singhal has filed his appearance on behalf of the respondent/ assessee.