1990 (9) TMI 65 - HC - Income Tax

Summary

The High Court of Allahabad allowed the income-tax application in part. Only question No. 1 regarding the status of the assessee as an industrial undertaking was directed to be stated under section 256(2) of the Income-tax Act, 1961. The Tribunal's decision for the assessment year 1984-85 was based on the Finance Act, 1984's definition of "industrial company."