1997 (9) TMI 56

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.... J.---This is a reference under section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue and the following question of law has been referred by the Tribunal for answer by this court : "Whether on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was an industrial undertaking and was entitled to relief under section 32A o....

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.... referring the question before this court and accordingly the reference has been made before this court. It is pointed out by learned counsel for the assessee that the assessee is not only involved in construction of buildings, housing complexes, etc., but sometimes the assessee is also engaged in the business of manufacture and supply of plant and equipment in the nature of ash handling and oi....