ALPINE INDUSTRIES Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THIS appeal was admitted on the following question of law: -

(2.) THOUGH the question of law on which the appeal was admitted is different, on going through the record, we find that the following question of law arises for determination in this case: -

(3.) THE basic authority on the point is Cambay Electric Supply Industrial Co. Ltd. vs. Commissioner of Income -Tax, Gujarat -II, (1978) 113 ITR 84. In that case the Apex Court was dealing with the provisions of Section 80 -E of the Act prior to its amendment in 1967. The assessee was carrying on the business of generation and distribution of electricity. It sold out some of its machinery and building. The question which arose was whether the amount earned from the sale of the machines and buildings was attributable to the business of the Industry. The Apex court held as follows: