Satish Chandra, J. - The Tribunal has, for the Assessment Year 1964-65 referred the following question of law for our opinion at the instance of the Commissioner :
'Whether on the facts and in the circumstances of the case, the assessee company was an industrial company engaged in processing of goods within the meaning of clause III(a) of the proviso to paragraph D of part III of the First Schedule to Finance Act, 1964 and thereby entitled to concessional rate of taxation'.
The Assessee, in the present case, is Messrs. Bharat Cold Storage, Farrukhabad. The Tribunal held that the Assessee was an industrial company referred to in the provisions. For this it relied upon for-earlier decision in respect of the Farrukhabad Cold Storage. The decision of the Tribunal in Farrukhabad Cold Storage case came up to this Court by way of a reference which is reported in The Additional Commissioner of Income Tax Kanpur vs. Messrs. Farrukhabad Cold Storage Pvt. Ltd., Farrukhabad. This court up held the view of the Tribunal that the Assessee was an industrial company within the meaning of the relevant provisions of the Finance Act. It is true that in that case the Finance Act of 1966 and 1967 came up for consideration while in the present case it is the Finance Act of 1964 which is applicable. But the material provisions are identical. The decision of Farrukhabad Cold Storage is, therefore, on all fours to the present case. In view of the decision in that case, we answer the question referred to us in favour of the Assessee and against the Department. The Assessee and against the Department. The Assessee will be entitled to costs which are assessed at Rs. 200/-.