Saraya Sugar Mills (P.) Ltd., Gorakhpur vs The Commissioner Of Income-Tax on 11 May, 1978
This question has also been considered by this court in Civil Appeal No. 830 of 1979 titled Saraya Sugar Mills Pvt. Ltd. v. CIT, decided on February 29, 1996. In that view of the matter, the appeal is allowed and questions Nos. 1 and 2 are answered in favour of the assessee and against the Revenue. No order as to costs.