Law:

Section:

Section 28(i), read with section 256 of the Income-tax Act, 1961 - Business income - Chargeable as - Tribunal found that products damaged during manufacturing were saleable only after repairing - It was further observed that income received from sale of repaired goods was subjected to tax in years of sales but in year of production they were treated as of no value - Whether there was any error in approach of Tribunal - Held, No - Whether, therefore, no referable question of law arose from Tribunal's order - Held, yes Note: In favour of assessee. JUDGMENT B.P. Jeevan Reddy, CJ.-We are not satisfied that any question of law arises from the order of the Tribunal which ought to be…

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