COMMISSIONER OF INCOME-TAX Vs. GABRIEL INDIA LTD

JUDGEMENT

(1.) The only question of law raised in this reference at th e instance of the Department is this :

(2.) Counsel are agreed that the issue involved herein in this reference is squarely covered by the Supreme Court decisions in the case of CIT v. Andhra Prabha P. Ltd. [1986] 158 ITR 416 and in the case of Shree Sajjan Mills Ltd. v. CIT [1985] 156 ITR 585 and that following these decisions, the question must be answered in the affirmative and in favour of the assessee.

(3.) The question is so answered.