2001 (5) TMI 11

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.....-Heard. Accepting a prayer for reference made by the Revenue under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), the following question has been referred by the Income-tax Appellate Tribunal, Delhi Bench "B" (in short "the Tribunal"), for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law and facts in al....

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....tuated at Naraina Industrial Area, New Delhi, where plant No.2 was already functioning. It was noted that no evidence was placed on record to show that any independent industrial undertaking had come into existence. That being the situation, the Income-tax Officer disallowed the claim. The matter was carried in appeal before the Commissioner of Income tax (Appeals) (in short "the, CIT (A)"). Befor....