2001 (8) TMI 45

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....red for the opinion of this court under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), by the Income-tax Appellate Tribunal, Delhi Bench-C (the "Tribunal" in short): "1. Whether, on the facts and in the circumstances of the case and on the interpretation of the provisions of sub-section (3) of section 33 of the Act, the Appellate Tribunal was justified to hold that the assessee-....

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....in Addl. CIT v. Vishnu Industrial Enterprises [1980] 122 ITR 919. The view expressed in the said case was specifically overruled by the Supreme Court in Shri Shubhlaxmi Mills Ltd. v. Addl. CIT [1989] 177 ITR 193. Consequentially, we would have answered the question in favour of the Revenue but we find that section 34(3)(a), as amended by the Finance Act, 1990, has some relevance to the issue, more....