( 1 ) THE following question of law along with the statement of the case was referred to this Court under Section 66 (1) of the Indian Income Tax Act 1922, herein called the Act, by the Income-Tax Appellate Tribunal Delhi Bench B, at the instance of the Commissioner of income Tax, Delhi, Central and Rajasthan, Delhi

"whether on the facts and in the circumstances of the case the assessee company was entitled to the deductions of the loss of Rs. 3,58,/83. 00 under section 10 (2) (vii) of the Income Tax Act, 1922. The Division Bench, when this matter first came up for hearing, before it, referred the question, in circumstances mentioned hereinafter. The referred question reads as follows: "whether on the facts and the circumstances of the case, the assessee-company nad sold the Crown Flour Mills to Hindustan Cold Stores and Refrigeration Limited within the meaning of Section 10 (2) (vii) of the Income-tax Act 1922, and entitled to the deductions of the loss of Rs. 3,58,783. 00under that Section?"

( 2 ) THE matter relates to the assessment year 1957-58, the relevent accounting year ending on September, 30, 1957. The assessee-company, Meattels Private Limited had been car