COMMISSIONER OF INCOME TAX Vs. INSTRUMENTATION P LTD

JUDGEMENT

(1.) THE Tribunal has referred the following two questions of law arising out of its order dt. 29th April, 1985 in respect of the asst. yr. 1981-82 under s. 256(1) of the IT Act, 1961,--

(2.) THE dispute relates to the agreement which was entered into by the assessee with Yamatake Honeywell Co. Ltd., Jaipur and to whom certain payments were made. This Court considered the matter in respect of statement of case sent by the Tribunal on the request of CIT vs. Yamatake Honey well Co. Ltd. (1994) 119 CTR (Raj) 347 : (1994) 210 ITR 470 (Raj) and it was observed as under:--