CIT Vs. ABRESSIVE INDIA

JUDGEMENT

(1.) The Income Tax Appellate Tribunal, Jaipur by order dated 12-6-1998 has referred following question under section 256(1) of the Income Tax Act, 1961 for opinion of this court :

(2.) It is not in dispute that first question has been answered by the decision of this court in CIT v. Surendra Textiles . The second question has been answered by the decision of this court in CIT v. Agarwal Transformers (P) Ltd. .

(3.) In view of this, the aforesaid first question stands answered in favour of the revenue and against the assessee and the second question stands answered in favour of the assessee and against the revenue.