1971 (3) TMI 100

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....WAMI, C.J.-It seems to us that the Tribunal took the correct view. The facts found by the Tribunal are these. The assessee borrowed a certain amount of cotton from one Valliappa Textiles, which had imported the same under the actual user's licence. The borrowing was permitted by the Textile Commissioner who directed that the loan should be returned in the shape of cotton and that neither of the tr....