CST Vs. MALTEX MASTERS LIMITED

JUDGEMENT

(1.) THE question of law referred for our opinion reads as under :

(2.) THE matter here is squarely covered by the judgments of this Court in CIT vs. Oswal Woollen Mills Ltd. (1989) 178 ITR 635 (P&H) and CIT vs. Road Master Industries of India (P) Ltd. (1989) 179 ITR 245 (P&H). This view has since been given the seal of approval by the Supreme Court in ITO vs. Stumpp, Schuele and Somappa P. Ltd. (1990) 94 CTR (SC) 160 : (1991) 187 ITR 108 (SC). We, accordingly, answer the question in favour of the assessee and against Revenue. This reference is disposed of accordingly. There will, however, be no order as to costs.