COMMISSIONER OF INCOME TAX Vs. INDIA CARBON P LIMITED

JUDGEMENT

(1.) THE following question of law has been referred under Section 256(1) of the Income-tax Act, 1961, by the Income-tax Appellate Tribunal (hereinafter referred to as the Tribunal):

(2.) THE facts of the case are as follows :

(3.) THE department preferred appeals against the orders of the learned Appellate Assistant Commissioner before the learned Income-tax Appellate Tribunal. THE submission made on behalf of the department as well as on behalf of the assessee was considered by the learned Tribunal as appears from the statement of facts.