2007 (5) TMI 688

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.... opinion under Section 256(1) of the Income Tax Act, 1961 is as follows: Whether on the facts and in the circumstances of the case, the Appellate Tribunal erred in law in holding that the Central Subsidy received by the assessed under 10% Central Outright Grant Scheme 1971 in respect of the backward area of Parwanoo in Himachal Pradesh could not go to reduce the cost of the plant & machinery for....