COMMISSIONER OF INCOME TAX Vs. ASIAN ELECTRONICS LIMITED

JUDGEMENT

(1.) THE question that arises in this reference reads thus :

(2.) MR . Jetley, learned counsel for the Revenue, has fairly drawn our attention to the judgment of the Supreme Court in Scientific Engineering House (P) Ltd. vs. CIT (1985) 49 CTR (SC) 386:(1986) 157 ITR 86 (SC) and the judgment of this Court in CIT vs. Sudarshan Chemical Industries (P) Ltd. (1984) 42 CTR (Bom) 1:(1986) 159 ITR 629(Mad), having regard to which the question must be answered in the affirmative and in favour of the assessee. The question is so answered. No order as to costs.