IN  THE  HIGH  COURT  OF  DELHI  AT  NEW  DELHI


                    ITA 109/2002


          LLOYDS INSULATIONS (I) LTD.         ..... Appellant
                                   Through  Mr.Manmohan with
                                 Mr.Ajay Mehrotra, Advocates

                              versus

          COMMISSIONER OF INCOME TAX-II       ..... Respondent
                                Through Mr.Sanjeev Khanna
                              with Mr.Ajay Jha, Advocates


          CORAM:
          HON'BLE MR. JUSTICE D.K. JAIN
          HON'BLE MS. JUSTICE SHARDA AGGARWAL


                              O R D E R
                             -----------
                            29.10.2002

                 Having  heard learned counsel for the parties we
          are  of the view that a substantial question of law does
          arise for consideration.
                 Admit.
                 The  following  question  of law is  framed  for
          adjudication:

                 "Whether  the Tribunal was correct in  law
                 in  holding  that  the  tax  paid  by  the
                 petitioner under Section 40 of the Finance
                 Act, 1983 was not deductible under Section
                 40(iia) of the Income-tax Act, 1961 ?"

                The  appellant  shall file within three  months
          ten copies of the cyclostyled paper books, containing
          all documents on which reliance was placed before the
          Tribunal,  including any order/orders, either in  the
                                                      ...contd/-


                                 : 2 :           [ITA 109/02]

          case  of the assessee itself or in case of any  other
          assessee, which has been followed by the Tribunal.
                The appeal be listed for hearing in the regular
          course.



                                              D.K. JAIN, J




                                        SHARDA AGGARWAL, J
          OCTOBER 29, 2002
          "v"