Law: Income Tax Act, 1961

Section: 250(2)

Income-tax----Reference---Industrial undertaking---Assessee whether industrial undertaking ---Qusetion of law.Held. that the question whether the assessee was an industrial undertaking was a question of law. JUDGMENT B.P. JEEVAN REDDY, C.J.---It is brought to our notice that, for the previous assessment year 1983-84, the Tribunal itself has referred the following question for the opinion of this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was, in law, justified in holding that the assessee was an industrial undertaking?" This question corresponds to question No.1 raised in this I.T.A. For the assessment year concerned in this I.T.A., however, the Tribunal refused to refer the question on the ground that, for the assessment year 1984-85, the Finance Act, 1984, defined the term "industrial company" and since, according to that definition, the petitioner is an industrial company, no reference is called for. After hearing the parties, we are of the opinion that a question of law in terms of question No.l suggested does arise and ought to be referred. It may also be noticed and it is also the case of the assessee that questions…

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