2009 (11) TMI 532

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..... V JJ. Judgment: This is an application under section 256(2) of the Income-tax Act, 1961 for calling the following question for opinion of this court : "Whether, on the facts and in the circumstances of the case, the IAC is correct in law in holding that the commission and subsidy paid to the cane growers formed part of the purchase price of the case and thus allowable for deduction .....

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..... dated January 13, 1997 upheld the order passed by the assess-ing authority holding that the assessment order dated March 25, 1992 passed by the Assessing Officer is without jurisdiction. Against the said order of the Tribunal the present reference application has been filed. 3. Heard Sri A. N. Mahajan, learned standing counsel for the Revenue and Sri S. D. Singh for the assessee. 4. We fin .....

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