JUDGMENT

[The Judgment of the Court was delivered by Abid Aziz Sheikh J.] - Through this single judgment, we propose to decide Income Tax Reference applications No.408/2003 and 409/2003, as common questions of law and facts are involved in both these reference applications which are filed by one and the same company (petitioner).2. Through these reference applications the petitioner/assesse has assailed the orders of Income Tax Appellate Tribunal, Lahore Bench, Lahore (Tribunal) dated 31-3-2003 passed in ITA No.878- LB/2000 relating to assessment year 1998-1999 and ITA No.879-LB/2000 relating to assessment year 1999-2000, respectively.3. At the very outset learned counsel for the petitioner submits that he will press only following question of law which is common in both reference applications:-"Whether on the facts and in the circumstances of the case, the Tribunal has erred in holding that weaving of cloth does not bring value addition to the cloth and the payments made on such account are no...