(1.) FOLLOWING questions have been referred by the Tribunal for our answer in RA No. 1606/Del/1984 for the assessment year 1976 -77:
(2.) WHETHER on the facts and circumstances of the case the Tribunal was justified in holding that M/s Hazarimal Milapchand Soorana was an industrial undertaking within the meaning of Explanation to Section 5(1)(xxxi) and as such the assessee was entitled to deduction under Section 5(1)(xxxi) of WT Act, 1957?.
(3.) THE counsel for the revenue submits that in view of the provisions of Section 2(m)(iii) of the Wealth Tax Act, 1957, the amount was outstanding for a period of more than 12 months on the valuation date and thus was not deductible from the net wealth. It is urged that the question may be answered in favour of the revenue.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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