1987 (6) TMI 5

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....icant, seeks a certificate from us that substantial questions of law of public importance arise from the judgment of this court dated August 26, 1986 (see [1987] 166 ITR 646), delivered in the above income-tax reference and that this is a fit case for appeal to the Supreme Court. Such questions of law are stated to be as follows : "1. What should be the true scope and ambit of the expression 'p....

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....pears from the judgment that this court followed the earlier decisions of the Supreme Court in the case of Chrestien Mica Industries Ltd. v. State of Bihar [1961] 12 STC 150 and Empire Industries Ltd. v. Union of India [1986] 162 ITR 846, where the Supreme Court considered and construed the meaning of the expressions "production" and "products". It has been held in the judgment that mere preservat....