COMMISSIONER OF INCOME TAX Vs. COROMANDEL FERTILISERS LIMITED

JUDGEMENT

(1.) At the instance of the Commissioner, Hyderabad, the following questions of law are referred under s. 256(1) of the I.T. Act 1961 ("the Act") :

(2.) These questions arise out of the consolidated order of the Tribunal dated 30/07/1976, in I.T. Appeals Nos. 395 and 68 (Hyd) of 1975-76 and I.T. Appeals Nos. 445 and 446 (Hyd) of 1975-76 and form the subject-matter of R.C. No. 144 of 1977. I.T. Appeal No. 68 (Hyd) of 1975-76 relates to the assessment year 1968-69. I.T. Appeal No. 395 (Hyd) of 1975-76 relates to the assessment year 1969-70. I.T. Appeal N 445 (Hyd) of 1975-76 relates to the assessment year 1969-70 and I.T. Appeal No. 446 (Hyd) of 1975-76 relates to the assessment year 1970-71.

(3.) In I.T. Appeal No. 396 (Hyd) of 1975-76 relating to the assessment year 1970-71, the following two questions are referred at the instance of the Revenue :