COMMISSIONER OF INCOME-TAX Vs. DEEPAK INDUSTRIES

JUDGEMENT

(1.) THIS order shall dispose of Income-tax References Nos. 19 and 20 of 1986 pertaining to the assessment years 1978-79 and 1979-80. As the Tribunal had disposed of Income-tax Appeals Nos. 234 and 262 of 1983 together, the two references arising out of these two appeals are also being disposed of by one and the same order.

(2.) THE Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh (hereinafter referred to as the Tribunal), has referred the following questions of law for the assessment years 1978-79 and 1979-80 to this court for its opinion :

(3.) ON an application filed under Section 256 (1) of the Income-tax Act, 1961, the Tribunal has referred the questions of law for the assessment years 1978-79 and 1979-80 set out in the earlier part of the judgment to this court for its opinion.