(1.) THIS is an appeal filed by Revenue (CIT) under Section 260a of the IT Act against an order dt. 24th Nov. , 1998, passed by Income-tax Appellate Tribunal (for brevity hereinafter referred to as Tribunal) in ITA No. 35/ind/1995. This appeal was admitted for final hearing on following substantial question of law:
(2.) HEARD Shri R. L. Jain, learned senior counsel with Ku. V. Mandlik, learned Counsel for the Revenue/appellant. None, for the respondent/assessee.
(3.) THE aforesaid issue was dealt with by the Tribunal in paras 7, 8 and 9 of their impugned order as follows: