Judgment

GOSWAMI, J.:- These two appeals by certificate are from the judgment of the Calcutta High Court since reported in Commissioner of Income-tax, West Bengal I v. Textile Machinery Corporation. The two appeals relate respectively to two assessment years 1958-59 (calender year 1957) and 1959-60 (calendar year 1958). The matter relates to the claim by the assessee for exemption of tax under Section 15-C of the Indian Income-tax Act, 1922 (briefly the Act).

2. The matter came up before the High Court on a reference under Sec. 66 (1) of the Act. The two questions referred to were as follows:-

(1) "Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the Steel Foundry Division was an industrial undertaking to which Section 15-C of the Indian Income-tax Act, 1922, applied?

(2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the Jute Mill Division set up by the assessee-company was an industrial undertaking to which Section 15-C of the Indian Income-tax Act, 1922, applied?

3. The facts may briefly be stated:

The assessee (the appellant herein) is a heavy engineering concern manufacturing boilers