1. These two references, one at the instance of the assessee and another at the instance of the Commissioner of Income - tax, Gujarat, arise out of the same order of the Income - tax Appellate Tribunal,???hmedabad, and we, therefore, intend to dispose of them by this common judgment. Shortly stated, the facts leading to these two references are as under:
The assessee - company carries on business of manufacturing cement at its factory situate at Ranavav in Saurashtra. The capacity of the first cement plant of the assessee - company was 600 tonnes per day. In the year of account, relevant to the assessment year 1968-69, the capacity was expanded and it was raised to 1,600 tonnes per day. The assessee - company, th