- (1.) The Tribunal, Delhi, has referred the following question of law under Section 256(1) of the IT 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 right in law in holding that the appellant was not entitled to investment allowance under Section 32A of the IT Act, 1961 in respect of the plant and machinery of its cold storage ?
(2.) Heard Sri Rishi Raj Kapoor, learned Counsel for the assessee and Sri Shambhoo Chopra, learned standing counsel for the Revenue.
(3.) The reference relates to the asst. yr. 1982-83.;