1987 (6) TMI 5

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....at 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 'production of any one or more of the art....

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....wed 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 preservation of an existing article by subjecting it t....