JUDGMENT : Leave was granted in this matter confined to question No. 1 alone in view of the decision of this Court in Commissioner of Income Tax v. Arvind Mills Ltd. 193 ITR 255. The question No. 1 reads as follows : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the assessee was entitled to development rebate on the enhanced cost of the machineries, arising out of exchange-rate fluctuation ?" 2. It is now conceded by the learned counsel for the respondent that the said question is indeed covered against the assessee by the said decision. The question is answered in the negative i.e. in favour of the Revenue and against the assessee. The appeal is allowed. No costs. Appeal allowed.