2001 (1) TMI 56

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..... s and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in quashing the order of the Commissioner of Income-tax (Appeals) holding that the sale proceeds of scrap value are not taxable ? (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in holding that the sale proceeds of scrap value amounti .....

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..... nal. The Tribunal upheld the order of the Commissioner of Income tax (Appeals). The Department has filed an application for referring two questions referred to above. The application has been rejected by the order dated June 4, 1997. The Department has sought reference again on these questions of law. We have heard Sri Prakash Krishna, learned counsel for the Department, and Sri Rajesh Kumar, .....

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