1993 (1) TMI 1

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....nce under section 256(2) of the Income-tax Act, 1961 (" the Act "), at the instance of the Revenue, the following question of law has been referred to this court for the assessment year 1979-80 : " Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in setting aside the Income-tax Officer's order under section 154 of the Income-tax Act, 1961, for the asse....

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....fter came in second appeal before the Tribunal. The Tribunal held that the said mistake was not apparent from the record since the dispute involved was debatable, if the cold storage could be taken as an industrial undertaking within the meaning of sections 32A and 80HH. The Tribunal, therefore, allowed the appeal. It held that the question involved being debatable was not so simple as to constitu....

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.... or in the construction of ships or in the manufacture or processing of goods or in mining." There the Supreme Court held as follows (at page 660) : " We have already noted that ' processing ' is a term of wide amplitude and has various aspects and meanings. In common parlance, 'processing' is understood as an action which brings forth some change or alteration of the goods or material wh....

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....cess within the meaning of section 2(7)(c) of the Finance Act, 1973. The three-judge Bench decision must be taken to have overruled the view of the Allahabad High Court in Addl. CIT v. Farukhabad Cold Storage [1977] 107 ITR 816 and that of the Calcutta High Court in CIT v. Radha Nagar Cold Storage (P.) Ltd. [1980] 126 ITR 66. The appeal has, therefore, to be dismissed and the opinion of the Del....