1998 (4) TMI 64

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.... J.---Two questions of law arising out of the assessment of the assessee-respondent for the assessment years 1978-79 and 1979-80 have been referred to us at the instance of the Revenue. The questions of law read as under : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the assessment order for the assessment year 1978-79 allowing....

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....f the powers of revision held that the amount of subsidy received by the assessee should be reduced from the actual cost of the machine for determining the depreciation. The Appellate Tribunal held that the Commissioner was not right in his view that the subsidy amount should be reduced from the actual cost of machinery and he has not exercised his powers of revision properly and the order of the ....