1989 (3) TMI 68

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....I, ACTG. C. J.-By this reference under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the capital subsidy of Rs. 8,23,287 shou....

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....y the order passed by the Tribunal, the Revenue sought reference and it is at the instance of the Revenue that the aforesaid question of law has been referred to this court for its opinion. At the time of hearing, learned counsel for the parties conceded that the matter arising in this case is covered by a decision of this court in CIT v. Bhandari Capacitors Private Ltd. [1987] 168 ITR 647. Fol....