- (1.) The Income-tax Appellate Tribunal, Allahabad, has referred the following question of law under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for opinion to this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was, in law, justified in allowing the relief on account of depreciation on capital expenditure on the cost of machinery and plant used for carrying out research and development ?"
(2.) The reference relates to the assessment year 1982-83.
(3.) Briefly stated the facts giving rise to the present reference are as follows :;