COMMISSIONER OF INCOME TAX Vs. BHOR INDUSTRIES LTD

JUDGEMENT

(1.) By this reference under section 256(1) of the Income Tax Act 1961, at the instance of the revenue, the Income Tax Appellate Tribunal has referred the following question of law to this Court for opinion :-

(2.) Counsel for the parties are agreed that the controversy in the above question now stands concluded in favour of the assessee by the decision of this Court in C.I.T v. T. Maneklal Mfg. Co.Ltd.,1991 192 ITR 268 and following the same, it should be answered in the affirmative and in favour of the assessee. Accordingly, the above question is answered in the affirmative and in favour of the assessee.

(3.) This reference is disposed of accordingly. No order as to costs.