- (1.) THE Tribunal, Delhi has referred the following question of law under s. 256(1) of the IT Act, 1961 (hereinafter referred to as 'the Act') for opinion to this Court : "Whether on facts and in the circumstances of the case, the Tribunal was correct in holding that the income from cold storage was income from letting of warehouse, so exempt under s. 80P(2)(e) of the IT Act, 1961 -
(2.) BRIEFLY stated the facts giving rise to the present reference are as follows : The reference relates to the asst. yr. 1980 -81.
(3.) WE have heard Shri A.N. Mahajan, the learned standing counsel for the Revenue. Shri Vikram Gulati has filed his appearance on behalf of the respondent -assessee. We find that identical question of law came up for asst. yr. 1979 -80 in CIT vs. District Co -operative Federation (2005) 193 CTR (All) 99 : (2004) 271 ITR 22 (All) and this Court vide storage was rightly exempt under the provisions of s. 80P(2)(e) of the IT Act, 1961. Respectfully following the aforesaid decision, we answer the question of law referred to us in affirmative, i.e., in favour of the assessee and against the Revenue. However, there shall be no order as to costs.;