1989 (2) TMI 105

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....TG. 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 and in view of section 43(1), the Tribunal is justified in holding that the amount of subsidy re....

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....ucted from the cost of the assets for allowing depreciation. Aggrieved by 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 ....