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1989 (7) TMI 8 - HC - Income TaxExtract: .......urt in CIT v. Prem Chand jute Mills Ltd. 1978 114 ITR 769 and Everest Hotels Ltd. v. CIT 1978 114 ITR 779 (Cal), will equally apply to the facts of this case. For the reasons aforesaid, we answer the question in this reference in the affirmative and in favour of the assessee. There will be no order as to costs. BHAGABATI PRASAD BANERJEE J.-I agree.
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