Corporation v. The Commissioner Of Income Tax

-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. Income Tax Reference No.113 of 1998 Maharashtra State Financial Corporation ..Applicant vs. The Commissioner of Income Tax ..Respondent Mr.N.Thakkar with Mr.Rajesh Poojari i/b M/s Mulla and Mulla for applicant. Mr.P.S.Sahadervan i/b Mr.R.B.Upadhyay for respondent. CORAM: Dr.S.RADHAKRISHNAN &S.J.KATHAWALLA JJ. 25th August, 2008 CORAM: Dr.S.RADHAKRISHNAN & S.J.KATHAWALLA JJ. 25th August, 2008 P.C. P.C. 1. Heard the learned Counsel for the applicant and the learned Counsel for the respondent. 2. Both the learned Counsel appearing for the applicant and respondent categorically state that the questions of law raised in the above reference application are squarely covered by the judgment of our High Court in the case of The Commissioner of Income Tax Vs.Maharashtra State Finance in ITR No. 291 of 1988 dated 30th June, 2005 in favour of the Assessee and against the revenue. In view thereof, for the reasons stated in the aforesaid order dated 30th June, 2005, which pertains to the very same assessee, we answer all the four questions of law in -2- favour of the assessee and against the revenue and accordingly the reference stands disposed of with no order as to costs. (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.) (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.) (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.)