The Cit Mumbai City-Ii v. Tata Hydro Electric Power Supply

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.52 OF 2001 The CIT Mumbai City-II ..Appellant Versus Tata Hydro Electric Power Supply Co.Ltd., ..Respondents ---- Mrs.P.P.Bhosale with Mr.P.S.Sahadevan for the appellant. Mr.P.C.Tripathi with Mr.Dinesh Vyas for the respondents. ---- Coram : F.I.Rebello & R.S.Mohite,JJ Date : 4.2.2008 PC 1. Admit, on the questions of law as formulated in paragraph-5 of the memo of appeal. 2. In so far as question no.1 is concerned, the same would have to be answered in favour of revenue considering the judgment reported in 278 ITR 546 except the amount pertaining to bonus i.e. which is left open for consideration in an appropriate case. 3. In so far as question no.2 is concerned, the same would be covered by the judgment of this Court CIT V/s. The Tata Hydro electric Power Supply in CIT V/s. The Tata Hydro electric Power Supply CIT V/s. The Tata Hydro electric Power Supply Co. Ltd., in Income Tax Appeal No.72 of 1999 Co. Ltd., Co. Ltd., in Income Tax Appeal No.72 of 1999 decided on 7.12.1999 in favour of the assessee. Question therefore, as framed would not arise. 4. Appeal disposed off accordingly. (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J)