COMMISSIONER OF INCOME TAX Vs. SANGHI BROTHERS LIMITED

JUDGEMENT

(1.) THIS is a consolidated reference under S. 256(1) of the INCOME TAX ACT, 1961, made by the Tribunal, Indore Bench, Indore, at the instance of the Department, whereby it has referred the following two questions of law for our decision:

(2.) IT is not necessary to burden this judgment by detailing the facts which are detailed in the statement of the case and dilating on the legal position inasmuch as both the questions are covered by a decision of the Supreme Court in Lohia Machines Ltd. vs. Union of India (1985) 152 ITR 308(SC) as also a decision of this Court in CIT vs. Sanghi Beverages (P) Ltd. (1982) 134 ITR 623 (MP) respectively.

(3.) THE reference is disposed of as indicated hereinabove. No order as to costs.