CIT AND ANR Vs. AMRIT BANASPATI CO LTD

JUDGEMENT

(1.) The present appeal filed under Section 260A of the Income Tax Act (hereinafter referred to as the Act) has been admitted on the following question of law framed in the memo of appeal:

(2.) The present appeal relates to the assessment year 1987-88.

(3.) The background facts in nut shell essentially are as follows.