1988 (3) TMI 7

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..... Appellate Tribunal, Delhi, be asked to draw up a statement of the case and to refer the four questions mentioned in paragraph 7 of the application for the opinion of this court Having heard learned counsel for the parties at some length, we are of the opinion that question No. (i) is covered by the decision of this court dated December 9, 1987, given in ITA No. 60 of 1986, pertaining to the ass .....

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..... ee's business ? (ii) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal, was correct in law in holding that a sum of Rs. 32,33,116 being the excess price realised by the assessee on sugar was not a revenue receipt in the hands of the assessee-company and, as such, not taxable in its hands ?" We, accordingly, direct the Income-tax Appellate Tribunal to .....

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