1989 (3) TMI 55

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..... referred to as "the Act"), the Income tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the capital subsidy of Rs. 73,532 should not have been deducted from the cost of fixed assets ?" The material facts giving rise to th .....

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..... d it is at the instance of the Revenue that the aforesaid question of law has been referred to this court for its opinion. At the time of hearing, learned counsel for the parties conceded that the matter arising in this case is covered by the decision of this court in CIT v. Bhandari Capacitors P. Ltd. [1987] 168 ITR 647. Following that decision, it must be held that the Tribunal was right in ho .....

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