COMMISSIONER OF INCOME TAX Vs. SHRIRAM BEARING LTD

JUDGEMENT

(1.) At the instance of the Commissioner of Income-tax and the assessee, the following questions of law have been referred to this court under Section 256(1) of the Income-tax Act, 1961 :

(2.) Another question has been referred at the instance of the assessee under Section 256(1) of the Income-tax Act, 1961, which is as follows :

(3.) It is not in dispute that the questions in this reference are concluded by the decision of this court in the case of CIT v. North Koshalpur Colliery Co. Pvt. Ltd. [1986] 161 ITR 756.