COMMISSIONER OF INCOME TAX Vs. MANGALAM CEMENT LTD

JUDGEMENT

(1.) ON an application under Section 256(1) of the IT Act, the Tribunal has referred the following questions for our opinion :

(2.) THE assessee -company derives income from sales of cement. The relevant assessment years are 1989 -90 and 1990 -91. During the asst: yr. 1989 -90, the assesses has shown the production of 4,86,260 MT and sales at 4,91,936 MT and in asst. yr. 1990 -91, the assessee has cement production to the tune of 3,71,658 M.T. and sale was 3,66,705 M.T.

(3.) HEARD learned counsel for the parties.