High Court Of Delhi
CIT vs. Premier Cushions Pvt. Ltd.
Sections 32, 56, 256(2)
B.N. Kirpal, & C.L. Chaudhry, JJ.
IT Case No. 136 of 1983
16th April, 1990
Counsel Appeared
B. Gupta, R. K. Chaufla and R. C. Pandey, Advocates, for the Revenue : B. B. Ahuja, Advocate, for the Assessee.KIRPAL, J.:
We have heard learned counsel for the parties at length, in view of the decision in the case of East Asiatic Co. (India) P. Ltd. vs. CIT (1986) 55 CTR (Mad) 339 : (1986) 161 ITR 135 (Mad), we direct the Tribunal to state the case and refer the following question of law to this Court :
” Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in confirming the order of the CIT (Appeals), in directing the ITO to set off the unabsorbed depreciation carried forward from earlier years against the income from other sources of the current year when the business stood discontinued ? “
2. There will be no order as to costs.
[Citation : 185 ITR 280]
