INDIA FOILS LTD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Tribunal has referred the following question of law to this Court under s. 256(1) of the IT Act, 1961 ('the Act') r/w s. 18 of the Companies (Profits) Surtax Act, 1964:--

(2.) THE assessment year involved is 1978-79 and the previous year commenced on 1st Jan., 1977 and ended on 31st Dec., 1977.

(3.) THE following conditions, inter alia, were further attached to the aforesaid permission :--