COMMISSIONER OF INCOME TAX Vs. WARNER HINDUSTAN LIMITED

JUDGEMENT

(1.) THE following two questions are referred to this court under section 256(1) of the Income-tax Act, 1961, for its opinion by the Income-tax Appellate Tribunal :

(2.) LEARNED counsel for the Revenue fairly conceded that the first question is covered by a decision in the assessee's case in CIT v. Warner Hindustan Ltd. [1979] 117 ITR 15, in favour of the assessee. We accordingly answer the the question in the affirmative, i.e., in favour of the assessee and against the Department.