COMMISSIONER OF INCOME TAX Vs. SYNTHETIC STONES

JUDGEMENT

(1.) THE Tribunal, Jaipur Bench, Jaipur, at the instance of the Revenue, under S. 256(1) of the IT Act, has referred the following question of law for the opinion of this Court :

(2.) AFTER the reference made by the Tribunal, the law on the point has been amended and an Explanatory Note on the provisions of the Finance Act, 1990, was issued making/modifying the provisions relating to exemption of income from export. The Circular No. 572, dt 3rd Aug., 1990, [printed at (1990) 87 CTR (St) 1] issued in this regard reads as under :