CIT Vs. BHARAT SUGAR INDUSTRIES

JUDGEMENT

(1.) THE Income Tax Appellate Tribunal, Allahabad has referred the following question of law under section 256(1) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') for opinion to this Court. 'Whether on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in upholding the deletion of Rs. 1,02,415 being the difference between the actual payments made for purchase of sugarcane and the amount payable as per the purchase price fixed by the Government, from the total income of the assessee for the assessment year 1979 -80?'

(2.) THE reference relates to the assessment year 1979 -80.

(3.) WE have heard Sri A.N. Mahajan, learned standing counsel for the revenue. No body has appeared on behalf of the respondent/ assessee.