C I T Vs. J K COTTON SPINNING

JUDGEMENT

(1.) THESE three references have been made by the Tribunal at the instance of Revenue and the questions of law in all the three matters read as under: Reference No. 193 of 1987 (Assessment Year -1971 -72)

(2.) SIXTH Schedule was inserted by Finance Act, 1968 w.e.f. 01.04.1969, amended by Finance (No. 2) Act, 1971 w.e.f. 01.04.1972, and omitted by Finance Act, 1972 w.e.f. 01.04.1973.

(3.) HOWEVER , Fifth Schedule was inserted by Finance Act, 1965 w.e.f. 01.04.1965. The Fifth Schedule has to be read with Section 33(1)(b)(B)(i), which reads as under: